Retirement Plan Options

Smaller companies, partnerships and sole proprietors can establish plans to help their employees save for retirement. Individual Retirement Account-based plans are designed to be easy to create and maintain, and can be less expensive than other retirement plans.

Two popular types of IRA plans are:

SIMPLE IRAs
A Savings Incentive Match Plan for Employees (SIMPLE IRA) is a flexible plan for small businesses in which employees can defer a portion of their salary and the employer makes a matching contribution. It is for designed for businesses of up to 100 employees.

SEP IRAs
A Simplified Employee Pensions (SEP IRA) is a retirement incentive plan in which  the business makes tax-deductible contributions on behalf of eligible employees, yet the employees do not defer an of their salary. It is designed for businesses with fewer than five employees.

Neither Nationwide® nor its representatives provide tax or legal advice. You should consult your attorney or other professional advisor for answers to any specific questions