Small Business Retirement Benefits: SEP Plans vs. SIMPLEs
Are you ready to set up a tax-advantaged retirement plan for your small business? If so, two of the most popular options are Simplified Employee Pension (SEP) plans and Savings Incentive Match Plans for Employees (SIMPLEs). Under either arrangement, you adopt a basic written plan and, generally, make contributions on behalf of each participant—whether that's you alone or you and your staff.