Small Business Owners & Employers
The Individual(k) allows self-employed business owners to take advantage of the high contribution limits and flexible investments of a 401(k). The owners can make both employer and employee contributions, providing them with the ability to maximize their personal retirement contributions, business deductions and savings potential. There are no compliance testing requirements since there are no employees. This plan is most suitable for self-employed individuals or a business owner with no additional employees other than a spouse or children.
A SEP IRA is a retirement plan for self-employed individuals or businesses with few employees. Consider this plan if your business is new or has variable profits.
A SIMPLE IRA is a retirement plan that offers employees a salary deferral contribution feature along with a matching employer contribution. Consider this plan if your business has a steady income and your employees want to make contributions to a retirement plan.
A 403(b)(7) is a retirement plan for employees of a 501(c)(3) non-profit organization seeking to save for retirement through pre-tax payroll deductions.
A Traditional IRA is a retirement plan for individuals looking for a tax deduction on their contribution and expecting to be in a lower tax bracket in retirement than now. This plan is an ideal vehicle for investors to save outside of their employer-sponsored plan.
A Roth IRA is a retirement plan for individuals who are not eligible for a deduction for contributions into a Traditional IRA and are seeking long term tax advantages. These individuals may be expecting to be in a higher tax bracket in retirement than now. This plan is an ideal vehicle for investors to save outside of their employer-sponsored plan.
A Coverdell ESA is an education savings plan for individuals looking to save for their children’s primary and secondary education expenses.