Business Retirement Planning

A SEP-IRA allows employers and self-employed individuals to establish a simple, business retirement plan. The plan is flexible and allows you to make deductible contributions directly to a traditional IRA for all qualified employees. As the employer, you may choose whether or not to make contributions from year to year.

A SIMPLE-IRA is for companies with fewer than 100 employees that do not have another qualified retirement plan and are looking for a plan that is flexible and partially funded by employees. Employer contributions are not currently taxable to the employee and earnings accumulate, tax deferred.

If you own a family business and you employ only immediate family members—your spouse, parents, grandparents, children, and/or grandchildren—this plan is a great option for you. Similar to a standard 401(k) plan, the Solo 401(k) offers sole proprietors the opportunity to defer a larger sum of money.

A 401(k) is a salary deferral plan for employers. Employer contributions to the plan are tax deductible to the business and the plan may provide a voluntary employer-matching fund. The employer may make discretionary contributions any year, as long as allocation is nondiscriminatory.

A Profit-Sharing Plan allows employers to control their company's plan. They have the option to make a discretionary contribution on behalf of eligible employees and can choose to vary their contribution from year to year.