Originally published in Entrepreneur Magazine

By Scott Wylie

Click below to watch the Video

You provide your employees with a competitive salary, good medical care options and paid time-off. How about offering them a retirement plan?

A group retirement plan is a great tool for attracting and retaining talent. It can cut federal income taxes for your workers and help them build a nest egg. Many kinds of plans exist — 401ks, 403bs, IRAs, profit sharing, defined-benefit. Each has advantages and disadvantages. But retirement plan regulations can be complex. Selecting the best group plan for your business isn’t easy.

The right plan can save you and your company money. The wrong plan can be costly. So take the time to get the facts.

Scott Wylie is Chairman and CEO of First Western Trust Bank.