The DOL announced the release of Choosing A Retirement Solution for Your Small Business, an online video designed to help small employers and accountants understand their retirement options. The video shares examples of companies that have implemented SEPs, SIMPLE IRAs, and 401(k) plans:
Washington – The U.S. Department of Labor today released a new online video to help small employers and accountants understand the various options for providing a retirement program for their employees. "Choosing a Retirement Solution for Your Small Business" introduces employers to the three most popular retirement arrangements.
The video portrays real-life experiences of four small employers that operate simplified employee pension (SEP), savings incentive match plan for employees individual retirement arrangement (SIMPLE IRA) and 401(k) plans. It focuses on the ease in setting up a retirement program appropriate for small business owners as well as the advantages of sponsoring a retirement plan, including tax breaks and as a tool to attract and retain a quality workforce.
"Today, there are many retirement plan options for small employers. The experiences of the small business owners featured in the video show how simple and valuable a retirement plan can be for small businesses," said Assistant Secretary of Labor for Employee Benefits Security Bradford P. Campbell.
The video is available online for download. Visitors to the site also may place DVD orders. The video was developed with the assistance of the American Institute of Certified Public Accountants, which partners with the Labor Department in educating accountants on retirement savings options.
Related DOL Links:
- Choosing A Retirement Plan for Your Small Business Video – The Choosing a Retirement Solution for Your Small Business video helps small employers and accountants understand the various options for providing a retirement program through four real-life experiences.
- Choosing A Retirement Solution for Your Small Business – A pamphlet describing the retirement savings options available to small businesses.
- 401(k) Plans For Small Businesses – This booklet highlights some of a 401(k) plan's advantages, some of the options and responsibilities of an employer operating a 401(k), and the differences among the types of 401(k) plans.
- Payroll Deduction IRAs For Small Businesses – Want to help your employees save for retirement but don't want the responsibility of an employee benefit plan? Think about a payroll deduction IRA program.
- SEP Retirement Plans for Small Businesses – A booklet describing an easy low-cost retirement plan option for employers.
- SIMPLE IRA Plans for Small Businesses – A booklet describing an affordable way to offer retirement benefits through the SIMPLE Plan.
- Small Business Retirement Savings Advisor – This elaws Advisor provides answers to a variety of questions about retirement savings options for small business employers and determines which program is most appropriate for a business.
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