Simple and SEP IRA Plans
These very different retirement investment options are flexible enough to accommodate businesses of all sizes. Let us help you pick the best option for your circumstance.
Comparing the Plans
| SEP-IRA | Simple IRA | |
| Taxes | Deferred | Deferred |
| Contributor | Employer Only | Both Employees and Employers |
| Yearly Contribution Limits | $58,000 or 25% of an employee’s salary (whichever is less) | $13,500 ($3,000 catch-up limit) |
| Good For | Less Than 100 Employees | Any Size Business |
401(k) Plan Creation and Management
This extremely popular pre-tax option has a contribution limit of $19,500 for 2020 and 2021. Also, employers can set length-of-service requirements on employees to encourage long-term employment at their company. We’ll cover all this information and more during an initial consultation, so give us a call to get started.
Qualified and Non-Qualified Executive Benefit Plans
An ERISA qualified or non-qualified plan is a strategic tool for attracting and retaining key talent for a business. With qualified plans, employers can deduct their contributions come tax time while contributions are tax-deferred for the employee. Conversely, non-qualified plans function similar to IRAs, only allowing for after-tax dollars to fund the plan.