Retirement Plan Options for Small Business If you run a organization and want to create sure that you--and your employees--get the most benefits possible after retirement, it's best to be aware of the options as early as possible. This way, you can offer programs that will serve the needs of your employees, and can increase organization comfort in the process. 1. SEP IRA A SEP IRA, or Simple Worker Retirement living Strategy, is perfect for very companies (no more than about 20 individuals), and is low-maintenance. As the manager, you are accountable for causing the retirement plan--employees are not allowed to add funds. The quantity of the efforts that you create can differ from season to season so you aren't required to give the same quantity if your organization has produced a lower profit than past decades. Contributions to the SEP IRA should be made for all employees who have proved helpful for you for three of past times five decades and have gained a complete of $550 or more from your organization in past times season. Simple IRA A Easy IRA, or Benefits Motivation Go with Strategy for Employees, is another option for companies, and this plan allows efforts by employees. However, the organization must match the efforts that the staff member makes to the retirement plan. The quantity that you put into the Easy IRA must be at least three percent of the worker's wage, and this kind of plan's perfect for companies with around ten employees, although managers with a organization of less than 100 employees are qualified as long as the organization does not have any other retirement programs. If you are staff of your own organization, you can take advantage of the fact that a Easy IRA allows you to create bigger efforts than any other organization retirement plan, making it simpler for you to preserve after you are no longer working. 401K Even though the 401K retirement plan's usually associated with bigger companies, you can join your organization in this plan if you have 25 or more employees. An employer/employee match is not compulsory with a 401K, which will help you to spend less, and all employees under the program must have proved helpful 1,000 hours or more within past times season. Any kind of organization is qualified for the 401K plan if specifications are met. The quantity of efforts by organization and employee cannot be greater than $49,000--employees who will 50 or older by Dec. 31, 2010 cannot have a 401K that surpasses $54,500.