Defined contribution plans (e.g., 401(k)s, 403(b)s, 457s, Simplified employee Pension plans
This article focuses on the three most popular types of tax-favored retirement plans for small firms: simplified employee pension plans
, commonly called "SEPs;" savings incentive match plans for employees of small employers, referred to as "SIMPLE IRAs" and "SIMPLE 401(k) plans;" and qualified profit-sharing plans.
The exclusion does not apply to distributions made from simplified employee pension plans
(SEPS) or Simple IRAs.
408(k)(2)(C) compensation amount for simplified employee pension plans
remains unchanged, at $450.
It is available only in individual retirement accounts or simplified employee pension plans
Then there are company-funded simplified employee pension plans
(SEP IRAs) and simple IRAs, which are primarily employee-funded savings match plans.
Simplified Employee Pension Plans
offer an uncomplicated alternative to traditional pension plans.
Instead, you will need to learn about tax-deductible vehicles such as Keogh plans and simplified employee pension plans
, as well as the traditional individual retirement accounts.
Mini 401(k) Salary Reduction Simplified Employee Pension Plans
Your two main options are Keogh and Simplified Employee Pension Plans
Additional project work will be supplemented by the Learn, Educate, Self-correct, Enforce (LESE) program; the Individual Retirement Arrangements program, which oversees payroll-deduction individual retirement accounts (IRAs), SEPs (simplified employee pension plans
), SARSEPs (salary reduction simplified employee pension plans
) and SIMPLEs (savings incentive match plans for employees); and the Form 5500-EZ Delinquent Filer Penalty Relief program for one-participant plans.
Individual retirement arrangements, such as traditional IRAs, Roth IRAs, SIMPLE IRAs, and simplified employee pension plans