What Is Best Retirement Plan For A Small Business?

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   Steve Savant

   Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona

   Each business owner needs to determine which retirement plan is suitable for their organization. If the sole proprietor is also the only employee, with limited contributions an IRA may suffice. But if an IRA contribution is too low, an SEP IRA may be a better option. For employers who have several employees, a 401(k) may serve the organization by offering such a plan as an employee recruiting and retention tool.

   Answered on August 28, 2013

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