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SIMPLE IRA or Safe Harbor 401(k) set-up deadline is approaching

October 1st is the deadline for setting up a SIMPLE IRA or Safe Harbor 401(k) for your business.

With a SIMPLE IRA, you get a retirement plan with very low administrative costs and it’s a great tool to attract new employees and retain existing employees. Your benefits department can manage SIMPLE IRA contributions without mountains of additional paperwork.

A Safe Harbor 401(k) is one of the most popular 401(k) plans sponsored by small businesses today. Safe Harbor Plans make it possible for owners and highly compensated employees to make the maximum salary deferral contributions to the plan even if other employees make limited or no contributions.

The deadline to set up these types of plans is quickly approaching. Please contact us as soon as possible to enable plan installation before the October 1 deadline.

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