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Defined Benefit Plans
Defined Benefit Plans are typically the most complex and expensive plans to administer out of all the types we have discussed in this section. They are designed to provide a certain predetermined benefit to employees when they retire, like a pension plan. Annual...
Are You Over-Insured?
The ultimate guide to what types of insurance you really need.
SIMPLE IRAs
SIMPLE stands for “Savings Incentive Match Plan for Employees.” These are popular among small businesses with less than 100 employees because they provide many of the benefits of conventional retirement plans like 401(k)s, but are much simpler and less expensive to...
Retirement Savings Accounts
In order to encourage people to take responsibility for their own retirement savings, the U.S. government has created several types of retirement accounts which provide significant tax benefits if you abide by the strict rules they have imposed on these accounts....
Profit Sharing Plans
This type of plan allows employers to make tax-deductible contributions at their full discretion, based on profitability for the year. They are very flexible and do not require any ongoing commitment from the employer, unlike most other plans. However, much like SEPs,...