Business Retirement Plans
Establishing & Managing Business Retirement Plans is a key element in your business plan. Whether you're a human resources manager, an owner of a closely held business or self-employed, establishing and managing a retirement plan is critical for the future of the business, your employees and yourself.
There is a Wide Range of Business Retirement Plans to choose from, finding the right retirement plan for your business can be confusing. Factors you should consider when selecting a retirement plan include:
- Tax benefits for the business
- Administration expenses
- Level of difficulty in implementation
- Reporting requirements
- Benefits for employees
- Type of contributions (e.g., employer-funded, employee salary deferral, etc.)
- Which employees are to be benefited (all employees, key/select, older, etc.)
Regardless of the type of organization, a corporation, partnership, S corporation, sole proprietorship or LLC, a variety of business retirement plan alternatives are available:
- Defined benefit plan
- SEP IRA
- Owner-only 401(k)
- Traditional 401(k)
- Profit sharing plan
- SIMPLE IRA
To better understand what is available to you and/or your employees please call and it would be my pleasure to help you through the process.