{"id":238,"date":"2013-04-26T10:12:34","date_gmt":"2013-04-26T17:12:34","guid":{"rendered":"https:\/\/www.jacksonwhitelaw.com\/az-small-business-representation\/?p=238"},"modified":"2024-07-31T10:28:17","modified_gmt":"2024-07-31T17:28:17","slug":"retirement-plans-for-arizona-small-businesses","status":"publish","type":"post","link":"https:\/\/www.jacksonwhitelaw.com\/az-small-business-representation\/blog\/retirement-plans-for-arizona-small-businesses\/","title":{"rendered":"Retirement Plans for Arizona Small Businesses"},"content":{"rendered":"<p>There are a wide variety of retirement plans to choose from and many are designed for small businesses.\u00a0 Three popular options include 401(k) plans, Simplified Employee Pension (SEP) IRAs, and Savings Incentive Match Plans for Employees (SIMPLE) IRAs.<\/p>\n<p>A<b> 401(k) <\/b>is the most well-known retirement plan out there.\u00a0 It has the most elasticity and high contribution limits.\u00a0 It allows a business owner and their employees to make regular, tax-deferred offerings during their careers.\u00a0 401(k) plans offer more choices for managing business costs and programming saving goals.\u00a0 You can choose to match or not, provide a vesting schedule, or enable penalty-free access to funds via loans if an emergency arises.<\/p>\n<p><b>SEP IRAs<\/b> are simple to start and are completely funded by the employer, meaning the money is immediately vested for the employee.\u00a0 There is no Roth option, loan option, profit sharing option, and no catch-up contributions for those over 50 years of age, such as there are with a 401(k).\u00a0 On the flip side, SEP IRAs don\u2019t normally have the added IRS tests and reporting that 401(k) plans do.<\/p>\n<p><b>SIMPLE IRA\u2019s<\/b> allow employers and employees to contribute to the plan.\u00a0 However, the employer must match, and matching is vested immediately.\u00a0 The employee contribution limit is set at $11,500 for 2011, which was $5,000 less than the limit of a 401(k) plan.\u00a0 Like the SEP, SIMPLE IRA\u2019s can avoid the IRS tests and reporting requirements that 401(k) plans have.<\/p>\n<p>If you need assistance in choosing or establishing your business\u2019 retirement plan in Arizona, the Mesa small business lawyers at JacksonWhite can walk you through the process and will ensure that all appropriate documents are completed correctly.<\/p>\n<p>Call JacksonWhite&#8217;s Small Business Law Team at <a href=\"tel:4804641111\">(480) 464-1111<\/a> to discuss your case today.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are a wide variety of retirement plans to choose from and many are designed for small businesses.\u00a0 Three popular options include 401(k) plans, Simplified Employee Pension (SEP) IRAs, and Savings Incentive Match Plans for Employees (SIMPLE) IRAs. A 401(k) is the most well-known retirement plan out there.\u00a0 It has the most elasticity and high [&hellip;]<\/p>\n","protected":false},"author":21,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[5],"tags":[],"class_list":["post-238","post","type-post","status-publish","format-standard","hentry","category-small-business-representation"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.9 - 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