(847) 690-9454 info@leifjensenassoc.com

Yes, there are options for retirement plans for small owners and their employees.  I have a SIMPLE set up in my office.

But there are a number of options for small businesses to assist workers save for retirement: SEPs, SIMPLE IRAs, payroll deduction IRAs, profit sharing plans, 401(k)sand defined-benefit plans.

There is a helpful brochure that compares eligibility, contribution limits, the employer’s role, withdrawals, loan payments, vesting and other basic operating rules for the various plans. See IRS Publication 3998.

Or go the better and simpler way and bring in a Financial Advisor to assist you in planning and setting up a suitable plan.  This would have to be done either way, but here you get to compare the costs of setting up the different plans.  Believe me all plans are not created equally.

Some plans may not be in your cost range or meet your wishes of what you want to do with your plan.

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