Corporate Retirement Plans
There are a number of different retirement plan options available for business owners. Finding the right one for your small business can depend on a number of factors, including how your business is structured and how many employees you have.
We focus here on the most commonly considered retirement plans for businesses:
- Simplified Employee Pension Plan (SEP IRA)
- Savings Incentive Match Plan for Employees (SIMPLE IRA)
- Self-Employed 401(k) plan
- Traditional 401(k) plans
All of these retirement savings plans rely on contributions that can be invested in various financial products. All four options can provide tax benefits, ranging from the ability for contributions to grow tax-deferred to the ability to deduct employer contributions to potential tax credits (up to $500) for setup and maintenance of a plan in its first three years if it is being offered for the first time.
You will not be charged for anything until you have assets at Baird