Asked by Daniel  |  Submitted August 15, 2016

I am starting a small business, what are the best retirement plan options I can offer my employees?

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  Answers  |  2

August 19, 2016

Personally, I would look at a "SIMPLE" plan. A SIMPLE IRA allows you to have a retirement plan that has little to no administrative costs for the employer outside of matching. I have used these with several small businesses, as it is the best way for an employer to use retirement money for employees that benefits them. You are not spending money on a third-party administrator who charges fees to review your plan. A SIMPLE is a boilerplate document created for an employer to fill in the blanks and follow the rules and that's about it.

$commenter.renderDisplayableName() | 10.01.20 @ 18:23


September 12, 2016

Hi Daniel,

Learn more about Savings Incentive Match Plan for Employees (SIMPLE) IRA plans in our MoneyTips guide on the subject:

$commenter.renderDisplayableName() | 10.01.20 @ 18:23