Best Retirement Plans For Small Business

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They have significantly lower fees than Oregon's plan and also have a potential for significant tax savings.Ted Benna is best known as the 'father of the 401(k).' About 40 years ago, he created a savings plan with employee pre-tax and employer matching contributions.Benna, a retirement benefits consultant at the time, based it off a provision in the Tax Revenue Act of 1978 — paragraph k of section 401.It provides a number of ways of encouraging small employers to offer plans.The second is legislation has been proposed that would require all employers with at least 10 employees to offer a plan.Find out how Fisher can help customize a retirement plan solution for your business.Compare 401(k) Plan Types A small business 401(k) plan can be a great benefit to your employees—but they have to enroll to see its true benefits. Our single goal on enrollment day is to create a customized day to ensure every employee in every location gets the help and education they need.I've learned the greatest benefit of a 401(k) is that it turns spenders into savers by making saving the first priority.That, then, is why it's important that employees have the opportunity to save via payroll deduction through their employers.They are all IRA-based alternatives, including payroll deduction IRAs with potential employer-matching contributions, SEP [Simplified Employee Pension] IRAs, SIMPLE IRAs and some new ways of potentially using those programs, as well. If their employer isn't offering a plan, they can make them aware that there are alternative plans out there they should look into.They could potentially make the effort to gather information about those alternatives, depending upon how ambitious they want to get.

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