Employers often want to help employees with these kinds of situations, but granting an employee's request to change a mistaken election often places some amount of risk on the company.

Employer contributions to RRAs that follow IRS rules are 100% tax deductible to the employer and tax-free to the retiree.

The retirement plan allows small business owners to maximize their contributions while sailing safely through annual IRS-mandated compliance tests.

Helping employees stay informed about benefit options and arming them with the knowledge to make wise choices about their health and wellbeing is essential during times of change and economic uncertainty.