Comparing Retirement Plan Options for Your Client's Small Business
Compare various retirement plan options to find the best fit for your clients, considering factors like eligibility, contributions, and administrative responsibilities.
Find the right plan for your client with our small business plans overview.
Key Points
- Plan Options: Understand the differences between Individual(k), SIMPLE IRA, SEP, Profit Sharing, 401(k), and Safe Harbor 401(k) plans to offer tailored solutions to your clients.
- Contribution Limits and Requirements: Each plan has unique contribution limits and eligibility requirements, allowing advisors to match the right plan to their clients' needs.
- Administrative Flexibility: Some plans offer more flexibility and lower administrative burdens, making them suitable for small businesses with limited resources.