Why Should Small Business Fund Retirement Programs?

Posted: May 16, 2018 8:47 AM
Why Should Small Business Fund Retirement Programs?

Currently in queue, a bill to the Colorado Business Affairs and Labor Committee, although killed in two consecutive previous years, HB 18-1298: Colorado Secure Savings Plan is reaching into your pockets. This bill, a retirement savings plan in the form of an automatic enrollment payroll deduction individual retirement account private employers of a certain size would be forced to offer their private-sector employees. The bill would establish a state board to oversee the plan and mandate all rules.


Of what benefit is such a plan to the average small business owner? Are there not enough regulations, defining the responsibility of the small business owner to support employees? Why not allow the employees the freedom to select their own retirement savings options?

Think about Government’s prior failure.

Nobody will argue that social security has offered millions a retirement they might not otherwise have had, but the plan is bankrupt. Government abused their watch over investments and the program has died on the vine, bringing more damage than goodness in the past few years.

To say social retirement programs have totally failed the entrepreneur as a resource for their golden years would be an understatement. To say anything less would be a lie.

Entrepreneurs by their very nature find the cost of regulations to be overwhelming and unreasonable. The value of adding to those regulations creates vast fear in the heart of any erstwhile entrepreneur, at the very least.

Whatever happened to the Constitution for the little guy?

There is no mandate in the Constitution for the state to provide for your retirement. And any moral dictate of such would be wasted in the sheer impudence of government’s idiotic ponzi scheme level reality.

Government run anything is less proficient than the worst run private business.

So what makes government think at this stage of the financial game that they should be regarded as capable of operating yet another retirement fund?

What’s a better alternative?

Free market, always. Let people know they need to save, invest, or buy an insurance policy that covers retirement. Give them choices, but keep government out of it. And by keep government out of it, I mean totally out of it. Don’t let government regulate insurances, investments, or savings. Let people make their own choices.

Then open the door so there are more options. Let them run businesses that allow them to retire and work part time. Stop fining people for working into their retirement years. Encourage career choices later in life that include extended opportunities.

Motivate young adults to care for their parents, instead of making it taboo to hang out with the parents and grandparents, make it cool again. Bring back generational homes, where grandparents care for the grandchildren, and it’s a good thing. Encourage more participation from many generational families, instead of warehousing seniors on death row.

Anti-up for boomer stride…  

This seemingly ingenious phrase showed up a few years back, where baby boomers catch their second wind with a new career meant to carry them through retirement years in style. As they use their skills to help the greater good, they are able to build businesses, grow consulting firms, and train professionals to take jobs they’re leaving, on a part time basis. When you want to stop working full time, having an option that allows you to take care of your health, visit your children, and live a life of luxury and ease on a salary you choose… That’s boomer stride, and I want to go there!

How about you?

The key to developing an alternative to government supported retirement, is opening the doors to opportunity and allowing those who want to retire to choose their options. Not everyone who retires wants to play Bridge in Arizona, or Snorkel the Florida Beaches. Open the door to opportunity and encourage those who want to take on a new career to explore their options and go for the golden nuggets.

Ultimately? How about a tax break if you start a business after you turn 55?

Don’t fund it. But don’t tax it either.

There’s an option many can’t quite wrap their brain around, but it makes perfect sense! They’ve paid their fair share of taxes. Let them earn and support their efforts to build a bigger and better America with knowledge and education learned over the long years of experience they gained working to support the system.