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Small business retirement plans that self-employed, entrepreneurs, and sole proprietors and their employees, tax-advantaged ways to save for retirement.
Small business and Self-Employed Retirement Plans
Solo 401k
A Solo 401k, also commonly referred to as an individual 401k, is for self-employed individuals without full-time employees. By allowing you to contribute as both the employer and the employee, this plan enables you (and your spouse if he or she works for you) to boost your retirement savings with higher contribution limits. Both Roth and pre-tax salary deferrals may be permitted.
SEP IRA
A Simplified Employee Pension (SEP) IRA is a plan completely funded by the employer. This plan benefits both the employer and employees, with tax-deductible contributions for the employer and tax-deferred growth for the employees. Flexibility over contributions makes it a good choice for businesses with varying profits.SIMPLE IRA
A Savings Incentive Match Plan for Employees (SIMPLE) allows both the employer and employee to contribute to employee retirement accounts with tax benefits for employer contributions and the ability for employees to make pre-tax contributions. This plan is intended for businesses with steady profits.
Compare small business retirement plans
Solo 401(k) Plan |
SEP IRA |
SIMPLE IRA |
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What Plan Fits My Business? |
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Businesses with 1 - 100 employees (corporate employers, non-profits, partnerships) |
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Who is Able to Contribute? |
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Employee contributes on own behalf |
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What are the Contribution Options? |
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Employee contributions are flexible |
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Contributions have tax-deferred growth potential |
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Contributions must be immediately vested |
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Additional Benefits |
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Ability to exclude part time employees |
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Tax deductible plan expenses |
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- Calculate contributions and determine employee eligibility in a business retirement plan.
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