Surgent's Features and Benefits of SEP IRAs and SIMPLE IRAs

A challenge for many small business owners is choosing the `right' type of retirement plan for their businesses. Many hesitate to make a choice because they are intimidated by the governing rules. In those cases, an IRA-based retirement plan is an easy, effective, and efficient way to start a retirement plan. These IRA-based plans - SEP IRAs and SIMPLE IRAs - have low maintenance costs and are easy to communicate to employees. In some cases, employer contributions are discretionary, providing the business owners with the choice of whether to fund every year.

Presented by Denise Appleby, MJ, APA, CISP, CRPS, CRC

All practitioners advising clients on these complex issues

• Help small business owners understand why they need to adopt retirement plans for themselves and their employees
• Identify key features and benefits of SEP IRAs and SIMPLE IRAs
• Determine which employees must be covered under SEP IRAs and SIMPLE IRAs
• Determine the steps that businesses should take to establish SEP IRAs and SIMPLE IRAs
• Explain the operational and administrative requirements for SEP IRAs and SIMPLE IRAs

• Applicable provisions of SECURE Act 2.0
• Key features for choosing a retirement plan for a small business
• Key questions an advisor must ask a small business owner to help determine which retirement plan is suitable for their business
• Key questions an advisor must ask a small business owner to help ensure compliance with a SEP IRA or a SIMPLE IRA
• How SEP and SIMPLE IRAs benefit the small business owner
• How SEP and SIMPLE IRAs benefit employees of small businesses
• The tax benefits that help to offset the cost of employer contributions
• How to determine which business is eligible to adopt a SIMPLE IRA
• How to determine which employees must be covered

None