Many of you have concerns over retirement. Many have indicated they haven’t saved enough. But there are other concerns.

Many small businesses don’t even offer their employees retirement plans in the first place. If you work for one of these companies, your concerns are even bigger.

The Government Accountability Office says just 5% of small businesses with 1-4 employees offer a plan. KTRH Money Man Pat Shinn explains why.

“It’s because of cost to the employer. It’s going to cost the company money,” Shinn explained.

But Shinn also thinks the reason those companies give you isn’t really valid.

“They shouldn’t be worried about cost anymore. They can set up plans that will cost them very little money,” Shinn stated.

But Shinn says you have options if you are caught in this kind of situation.

“If your company has fifty or less employees, you should ask for the possibility to do a simple I-R-A. It has less cost and less restrictive guidelines,” Shinn said.

Shinn says there’s actually very little difference between a 401k and a simple I-R-A.

“They are not that much difference from what your investment choices are. There is no difference between the two,” Shinn explained.

The GAO report also shows that 18% businesses with 11 employees or less offer 401K's. The number is 26% of businesses with 12 to 25 workers and 31% of companies with between 26 and 100 employees