(US News) – Small business owners know that one of the secrets to success is hiring and retaining quality employees. One of the best ways to keep your best employees happy is to offer a solid payout plan. In fact, 11 states require most small businesses to offer a retirement plan to employees, according to Value Point Associates (VPA), a national employer member association that specializes in providing “big company” benefits to small and medium-sized businesses.

The VPA uses the size of its membership to negotiate affordable rates on premium employee benefit plans. These plans can be tailored to the needs of a number of small business models.

“VPA’s pooling model is probably the easiest small business benefits scheme in the country,” says Michael Schifferle, VPA’s director of sales and marketing.

Some of the notable benefits of the VPA membership plan include:

– Less stress. The VPA handles the administration and design of the benefits package, and small businesses can choose from several programs to choose the best fit.

– More money. Many small employers believe they cannot offer a 401k plan to employees because of the high cost. With incredibly reasonable VPA rates, small businesses can offer the retirement savings plans employees need, helping them compete with larger businesses for the best talent.

– Fewer documents. VPA also assists its members with administrative tasks and services, including benefit package administration, coordination with payroll services, auditing, and Form 5500 preparation and filing.

– More security. Small business owners appreciate that VPA membership reduces ERISA personal fiduciary liability. In contrast, a larger employer that offers a 401k plan itself acts as the plan sponsor, which increases liability.

In addition to retirement plans, VPA offers affordable employee health insurance options. Employers can explore both traditional group insurance and non-traditional coverage that provides the most flexibility and saves time and money. VPA helps small businesses stay competitive on the health insurance front by offering employees ICHRA (Individual Insurance Health Reimbursement Agreement), QSEHRA (Qualified Small Employer Health Reimbursement Agreement) and other HRAs, as well as health savings accounts and flexible expense accounts.

Visit valuepointassociates.com for more information.

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