401K Services

result: 401K

A 401(k) is a tax-advantaged, defined-contribution retirement account sponsored by employers that enables owners and employees to contribute to their retirement before taxes are taken out (pre-tax). 401(k)s have the most plan design flexibility, such as offering an after-tax Roth option, loans, or hardship withdrawals. Employers can also contribute to employees’ accounts, such as in the form of a match.

result: Simple IRA

A SIMPLE IRA (Savings Incentive Match Plan for Employees) is a tax-deferred retirement savings plan designed for small businesses with 100 employees or less. Like a 401(k) plan, SIMPLE IRAs allow eligible employees to invest a percentage of their pre-tax paycheck and receive employer contributions. Plan design options are limited; however, plan administration is simplified, and the low cost makes it a great start-up plan.

result: Payroll Deduction IRA

A Payroll Deduction IRA enables employees to establish an individual retirement account with a financial institution and authorize a payroll deduction amount for the account. This is typically done outside of the employer’s qualified plan.

result: Solo 401k

A Solo 401(k) is a retirement account designed for those who are self-employed or business owners who have no full-time employees. This retirement account type enables business owners to contribute both as an employee and as an employer, thereby maximizing both contributions and business deductions.

result: SEP IRA

A SEP IRA (Simplified Employee Pension) is a tax-deferred individual retirement account for business owners and the self-employed. Establishing a SEP plan enables employers to make contributions to their own IRA accounts as well as those of eligible employees, though employee contributions are not permitted. As with a Solo 401(k), owners are typically able to make substantial, tax-deductible contributions for themselves.