There are two affordable 401K options for small businesses.
- SEP – Simplified Employee Pension Plan
- SIMPLE Plan
How do these work like a 401K?
- Employees contribute to their retirement
- Employers can match the contribution
- Employees can choose investment options
Can they still choose from stocks, bonds, money market funds, and mutual funds?
- Yes; they can mix and match to meet their personal investment objectives and their risk tolerance.
When should you start saving for retirement?
- It’s never too soon to start saving.