SMALL BUSINESS RETIREMENT PLANS

 

Small business retirement plans present a unique financial opportunity to both businesses and their employees.

Businesses make tax-deductible contributions for each eligible employee. This provides an opportunity for employers to help their “greatest asset” prepare for a more comfortable retirement, improves loyalty, and builds morale while also lowering your business's taxable income.

Depending on the retirement plan, employees may also make their own contributions. This not only gives them a vested interest in their own financial well-being, but makes them more committed employees to your business for a longer period of time.

 

TYPES OF SMALL BUSINESS RETIREMENT PLANS

 

Hale Financial Solutions offers a variety of plans depending on the needs of your business.

SIMPLE IRA

SIMPLE IRAs function similarly to a Traditional IRA, except the employer makes contributions as well as the employee. Employers either make a 2% contribution or a 3% matching contribution to employees each year. 

SEP IRA

Simplified Employee Pension IRAs, or SEPs, allow for employer contributions only. The employer contributes 25% of compensation or $55,000 (for 2018) to an account for each eligible employee, whichever amount is less.

401k

401k plans provide for a wide variety of contribution and matching options, as well as other features. Employees can contribute up to $18,000. Employers can also contribute. The total combined employee and employer contributions cannot exceed $55,000 for 2018.

 

SERVICES INCLUDE

 
 
  • Handle the entire setup process of your retirement plan

  • Train employees to use their retirement plan and update their information

  • Assist employees with investment selection

  • Free newsletter and training webinars provided regularly

  • Access to a personal financial advisor for your business and employees

 

PRICE

Pricing for small business retirement plans varies depending on plan type, business needs, and number of employees. Please contact Hale Financial Solutions for a price estimate.