| Retirement plan problems… | and solutions… |
|---|---|
| “Retirement plans are too complex and expensive.” | Not with a simplified Employee Plan (SEP) or Savings Incentive Match Plan for Employees (SIMPLE) – contributions go directly to participants’ IRAs. Minimal record keeping. |
| “My profits fluctuate; I can’t afford to make regular contributions to a plan… but I’d like to make contributions in profitable years.” | Try a SEP or Profit Sharing Plan – contributions are optional; up to 25% of covered payroll. |
| “I’d like the bulk of any contributions to go to the older employees who have contributed the most to the business – including myself.” | New Comparability Profit Sharing and Defined Benefit Plans have higher effective contribution rates for older participants. |
| “My business can’t afford to make contributions to a plan, but I’d like to encourage my employees to save for retirement.” | A 401 (k) Plan allows for tax deductible employee contributions. |
| “We need to plan for the transfer of the business from parent to child.” | A qualified retirement plan can provide a tax deductible funding vehicle for parent’s retirement income. |
| “My business is too small to sponsor a retirement plan.” | We specialize in making small plans worthwhile. Some of our plans have only one participant. |
MRP Plans, Inc.
your local retirement plan administrator
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