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IRS Updates Info for Small Business Retirement Plan Reporting - The IRS has issued an updated version of Publication 560, which small businesses use to report on their SEP, SIMPLE, and qualified retirement plans. The updated version is for use in preparing 2023 returns. The updated Publication 560 also includes information relevant to reporting about 403b and 457b plans.
Small Business Retirement Plans: How Firms Perceive Benefits and Costs - At any given time, only about half of U.S. private sector workers are covered by an employer-sponsored retirement plan, and few workers save without one. The coverage gap, which undermines the retirement security of the nation's workers, is driven by a lack of coverage among small employers. This article presents the results of a new survey of small employers to understand why some offer retirement plans and others do not.
Pooled Employer Plans vs. SIMPLE IRA - There are now many different retirement plan options for employers. It is becoming more common to see Pooled Employer Plans and SIMPLE IRAs evaluated against one another. Both types of plans can be good options for the right situation. This chart takes a look at the differences between the two plans.
Small Business Retirement Plan Options - 2024 - This 4-page chart compares the four common types of plan designs often utilized by small employers.
Resources
A glossary retirement plan and investment terms available here.
Information on Small Business Plans
Starting a small business retirement savings plan can be easier than you think. Here are some resources on a varity of retirement plans available to the small business person.
Small Business Retirement Plan Options - 2024 - This 4-page chart compares the four common types of plan designs often utilized by small employers.
DOL's 401k Plans for Small Businesses
Choosing a Retirement Plan for Your Small Business -- In this piece you will find a chart outlining the advantages of each of the most popular types of IRA-based and defined contribution plans and an overview of a defined benefit plan.
Retirement Plans FAQs Regarding SEPs
FAQs Regarding SIMPLE IRA Plans
SEP Retirement Plans for Small Businesses
Simple IRA Plans for Small Businesses
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