Types & Uses of Retirement Plans for Business/Group/Employees*
Simplified Employee Pension (SEP) Plan:
For self-employed people and small business owners who wish to make tax-deductible contributions of up to $45,000 or 25% of their income, whichever is less, and that of their eligible employees.
Simple IRA Plan:
For firms of 100 or fewer employees to establish an employee savings program for pre-tax contributions of up to $10,500 per year.
For employers who wish to allow employees to make pre-tax contributions through payroll deductions of up to $15,500 per year or 25% of their pay, whichever is less.
For employees of public schools, non-profit hospitals and other certain tax-exempt organizations. Also known as a Tax-Sheltered Account.
Our agency does not provide legal or tax advice. For specific legal or tax advice based on your situation, please contact your attorney of tax advisor.
** The term "Keogh" or "HR-10" describes any type of retirement plan established by an nincorporated business - whether it be a profit sharing, money purchase or defined benefit plan.
Financial Planners / Financial Advisors
Securities offered through Sammons Securities Company, LLC, member FINRA/SIPC. www.finra.org www.sipc.org
Brokerage accounts carried by First Clearing Corporation, FINRA and SIPC 2001. First Clearing Corporation, 20051.