Once you have hired and trained a key employee, it is important to retain them. There are many benefits available to the company as well as key employees when implementing a plan. The benefits are as follows:
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Many plans are tax deductible to the company
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Many plans have minimal ERISA compliance requirements
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Some plans allow discrimination in favor of key employees
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Many plans have vesting schedules that assist in key employee retention
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Many plans have a plan reimbursementfeature