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Retirement Plans for Small Businesses

Whether you and/or your employees are five years away from retirement or 20 years away from retirement, we’ll help guide you through the steps necessary to secure enough assets for an optimal retirement lifestyle, in the most tax-efficient manner.

SFM specializes in:

SIMPLE IRAs
Savings Incentive Match Plan for Employees are a good fit for companies that:
1. Have less than 100 employees
2. Want to provide a small incentive match (3% of gross pay) to employees
3. Want simplicity and low administrative cost
4. Have owners that don't plan to save more than $13,500 ($16,500 if over age 50) per year in a tax-deferred retirement account

401(k) Plans
You should consider a 401(k) if:
1. You don't want to offer a match to your employees
2. You want the option to offer a generous profit-sharing contribution (up to 25% of gross pay) to employees
3. You have more than 100 employees
4. You want the ability for the owner to save the maximum amount allowed by law in a tax-deferred retirement vehicle.
5. You want to offer a 'Roth' option in your plan
6. The owner is the only 'employee' of your own corporation
7. You want to offer a company match of more than 3%
8. You want company matching / profit-sharing contributions to vest on a schedule based on employee longevity

SEP IRAs
Simplified Employee Pension IRAs are a good fit for small businesses that:
1. Have few or no employees
2. Want simplicity and low administrative cost
3. Want to defer taxes on up to 25% of business / self-employment income