What retirement plan is the right fit for your business?

Whether you’re self-employed and need to fund your own retirement or a small business owner looking to create a sound financial future for you and your employees, SPM offers a variety of retirement plans to fit your needs.

There are several types to choose from and the options can be confusing. For example, some retirement plans are better suited for sole proprietors, while others are more appropriate for businesses with more employees. Experts estimate that Americans will need 70 to 90 percent of their preretirement income to maintain their current standard of living when they stop working. So now is the time to look into retirement plan programs. As an employer, you have an important role in helping America’s workers save.

Many small business owners say they want to set up a 401(k) plan because that is the plan they are most familiar with, however, after analysis of the choices available, another plan type, such as a SEP IRA or a Self-Employed 401(k), may be more appropriate.

Compelling reasons why businesses start retirement plans

  You want to help secure your future and that of your employees
  Offering a retirement plan can help your business attract and keep employees
  There are potential tax benefits to offering a plan

Common retirement plans business owners implement

  Simplified Employee Pension Plan (SEP IRA)
  Savings Incentive Match Plan for Employees (SIMPLE IRA)
  Self-Employed 401(k) Plan
  401(k) Plans for larger companies or 403(b) Plans for non-profits
  Non-Qualified Deferred Compensation Plans

For many Employee Retirement Plan Participants … that journey begins with enrolling in their company’s retirement plan whether it is a 401k, 403b or other defined contribution plan. Having a team working for them enables participants the freedom to invest with confidence in their future. As you consider the specific features of each plan please feel free to reach out to Select Portfolio Management, Inc. for assistance in this very important business decision.

SPM Business Retirement Planning Solutions include:

  SEP IRA SIMPLE IRA 401(k) 403(b) 457(b)

  Defined Benefit Plans Defined Contribution Plans  Profit-Sharing Plans

  Qualified and Non-Qualified Deferred Compensation Plans