the appropriate type of retirement plan takes many factors
into consideration, including:
business owner's goals for the plan..
size of the business.
age of the owners and key employees.
number of employees.
amount of money owners can contribute on an annual basis
the business wants to benefit with the plan, and other numerous
example, if your company has mostly young people, including
the owner(s), you may want to consider a 401(k) plan that
allows employees to contribute pre-tax money to the plan.
The company can provide what is known as a "match" each year
if your firm has consistently stable profits-plenty of money
to provide contributions each year, and your owners are getting
on in years, you may want to consider a defined benefit plan.
Employees cannot make pre-tax contributions, but the older
employees can benefit greatly since the formula weighs heavily
on the years left until retirement.