Employer Plans
What is the right plan for you? Being an employer, you have options for yourself and for your employees on ways to help with retirement savings. Here are a few that could be right for you. Of course it’s wise to speak to a Financial Advisor who can provide more detail after they get to know your needs.
Employer retirement plan options may include 401 (k) plans, 403 (b) plans, SEP IRA plans, SIMPLE 401 (k) plans, SIMPLE IRA plans, and IRA payroll deductions. 401 (k) plans are the most popular for employers.
403 (b) plans are similar to 401 (k) plans, but they are for non-profit organizations.
SEP IRA plans, SIMPLE 401 (k) plans, and SIMPLE IRA plans are simplified retirement plans that allow employers to make contributions to their own and their employees' IRAs, subject to certain limits.
IRA payroll deductions are an option for employers who do not want to adopt a retirement plan, but want to let their employees save through their paychecks.