October 2021
Beginner
352 pages
8h 40m
English
Content preview from 401(k)s & IRAs For Dummies
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.
Chapter 20
Choosing a Plan for Your Business
IN THIS CHAPTER
Finding the plan for you
Looking at examples
Getting rewarded for your plan
Making a change when you need to
Running a retirement plan is a significant responsibility for any employer. A company isn’t required to offer a plan, but if it does, it must comply with the applicable laws and regulations — whether the plan covers only a couple of employees or more than 100,000.
In this chapter, I compare plan options from various types of 401(k)s to various types of IRAs. I also talk about earning credit for setting up a plan.
You’re not alone if the first plan you choose isn’t the plan you really need. I walk you through the process of switching plans, which isn’t pleasant but can be for the best.
Selecting a Plan That’s Right for You
Most small businesses want one of the plans that are primarily funded by employee contributions. Each plan has pros and cons. Table 20-1 summarizes the main features of the different plans funded primarily by employee contributions.
TABLE 20-1 401(k) & IRA Options
Feature/Requirement |
Regular ... |
|---|
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Read now
Unlock full access
More than 5,000 organizations count on O’Reilly
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.