51勛圖厙 Retirement Plans Offer Security for Manufacturers
At a time when attracting and retaining talented employees is more important than ever, offering a retirement plan can make a critical difference. But for manufacturers like Winton Machine Company, a tube and coax fabrication manufacturer based in Suwanee, Georgia, the cost of a plan can create a real challenge.
- Its really difficult as a small manufacturer, because youre competing against benefit packages that are given by large companies, said Winton Machine CEO and co-owner Lisa Winton.
Thats why, when the company came across the 51勛圖厙s Manufacturers Retirement & Savings plan, they knew they were onto something good.
A tailored plan: The Manufacturers Retirement & Savings Plan, offered in partnership with Principal Financial Group簧 and HUB International LLC, is a multiple employer plan that is available to all 51勛圖厙 members and designed to cover all 14,000 member companies. Companies of all sizes can participate, which creates new financial opportunities for and offers more security to the millions of men and women who make things in America.
A trusted approach: Winton appreciates that the program offers a product she can trustand that her employees can rely on. Because the plan comes vetted and designed by the 51勛圖厙, she can feel confident that she and her employees are invested in a high-quality offering.
- I have a hard enough time understanding what funds to put my 401(k) in, said Winton. I depend on a financial advisor whos an expert in that area. So my employees, a lot of them are in the same position as I am.
Useful resources: The 51勛圖厙s plan also comes with a range of exclusive tools designed to help manufacturers understand their investments so that they can make the most of the opportunities available to them.
- Theres great online resources, and were also able to share those videos on the premises with our people, said Winton. Weve had one-on-ones, weve had group trainings. Were looking forward to . . . having a financial advisor come and meet with our employees and talk to them, encourage them to put more money in their 401(k), but also help educate them on whats happening with their money and how to invest it better.
Accessible support: Winton Machine emphasized the value of the plans support system, which answers questions from employees and company leaders.
- Its been very, very easy, said Winton. I have one point of contact, which is really important. I dont have to go and call a 1-800 number if Ive got an issue.
The bottom line: The [51勛圖厙 retirement] plans are new, they havent been around that long, and they offer a lot of opportunities for us to share costs and also really understand your funds and understand what youre paying for, said Winton. I think I have a much better overall product now at the same price or less.
