Should I Establish a SEP IRA or a Simple IRA Plan for My Small Business?

Reference Guides
Written By Echo45 Advisors
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If you’re a business owner, you may be searching for retirement plan options that benefit you and your employees, without incurring burdensome costs or administrative complexity. SEP and SIMPLE IRAs can be great alternatives to 401(k)s, each offering attributes that could be attractive, depending upon your specific circumstances. Comparing these two options can be difficult, as there are multiple factors to weigh. 

To help guide you through a SEP vs. SIMPLE IRA analysis, check out this flowchart. It covers pertinent factors, including: 

  • Business owner goals and preferences 

  • Size of business / employee headcount 

  • Employer and employee ability to contribute 

  • Contribution minimums and limits 

Echo45 Advisors http://www.echo45advisors.com
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