The Retirement Plans Comparison Tool is designed to help determine which plan may best suit your small business needs. Whether you're a sole proprietor, C corporation, S corporation, or partnership, you can narrow down plan choices by answering a few, simple questions.
A Solo 401k, also commonly referred to as an individual 401k, is designed for self-employed individuals without full-time employees. This plan enables you (and your spouse if he or she works for you) higher contribution limits. Both Roth and pre-tax salary deferrals may be permitted.
A Simplified Employee Pension (SEP) IRA is a plan completely funded by the employer. This plan allows the employer tax-deductible contributions and any growth is tax-deferred for the employee. Contributions are flexible.
A Savings Incentive Match Plan for Employees (SIMPLE) allows both the employer and employee to contribute to employee retirement accounts with potential tax benefits for employer contributions and the ability for employees to make pre-tax contributions. This plan is intended for businesses with steady profits.
Profit-Sharing plans reward employees with a percentage of company profits, although contributions do not have to be based on profits. Employer contributions are discretionary and provide potential tax benefits for both the employer and employee.
Learn how the right retirement plan can help you grow your retirement portfolio, attract and retain valuable employees, and pursue your retirement goals. Call 800-472-0586 to talk to a TD Ameritrade representative today.