By Greg Tedone, CPFA, QKA
Head of Retirement Plans, Senior Advisor, Partner
Strategic Financial Services
When we talk about style makers in the Mohawk Valley, we think of the people who shape the character of this community — the business owners, the builders, the ones who create something lasting. But there’s another kind of maker that doesn’t always get the recognition it deserves: the employer who helps their people build a financially secure retirement.
Most Americans will spend the majority of their working lives at a handful of employers. What those employers choose to offer — or not offer — has a profound impact on whether their employees will one day be able to retire with dignity. That’s a significant responsibility, and an equally significant opportunity.
The data is sobering. Nearly half of private-sector workers in the United States have no access to a workplace retirement savings plan. In New York State, that reality recently prompted Governor Hochul to launch the Secure Choice Savings Program, a state-facilitated Roth IRA designed to fill the gap for employees whose employers don’t offer a qualified plan.
The message behind that legislation is worth sitting with: when employers don’t act, government steps in. And while Secure Choice provides a baseline, a well-designed employer-sponsored retirement plan — a 401(k), SIMPLE IRA, or profit-sharing plan — offers employees something far more powerful: higher contribution limits, potential employer matching, and a structured path toward real financial security.
Business owners in the Mohawk Valley have always taken pride in how they treat their people. Offering a meaningful retirement benefit is one of the most lasting ways to demonstrate that commitment — and to become, in the truest sense, a Retirement Maker.
(print & web) Disclosure: Greg Tedone is a Partner and Senior Advisor at Strategic Financial Services, an SEC-registered investment adviser. This article is for informational and educational purposes only and does not constitute investment, legal, or tax advice. It is not tailored to the circumstances of any individual or organization. Readers should consult qualified professionals regarding their specific situation. For more information, visit www.investstrategic.com or view our Form ADV at adviserinfo.sec.gov.
