March 23, 2023
Did you Know? Retirement Plans can Benefit Employees AND the Business
A Simple IRA plan or SEP IRA plan can provide a simplified way to contribute toward retirement.
Small businesses constantly face the challenge of attracting and retaining employees. And, when they don’t offer any retirement benefit, that challenge increases significantly. A Simple IRA plan or SEP IRA plan provides employees with a simplified way to contribute toward retirement. It can reduce taxes and, at the same time, help you attract and retain quality employees.
[bs_well size=”md”]The opportunity
Most small business owners think the only option is a 401(k), which can be expensive and complicated to set up. Talk with them about the Simple IRA and SEP IRA, options provided by the IRS specifically for small businesses seeking a low-cost plan that’s easy to administer and maintain. Best of all, in both (Simple IRA and SEP IRA) plans’, employer contributions are tax deductible!
Spotting the opportunity
- Businesses with less than 100 employees and where the business owner is willing to also contribute to the employees saving – The Simple IRA
- Sole proprietorships and very small businesses where the business owner is willing to be the sole funding source – The SEP IRA
Plus, in states that require businesses to have a retirement saving plan, these are very cost effective options!
Find a consumer-facing email and social media posts featuring this sales idea on our IRA Landing Page
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