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Comparison Between a SIMPLE IRA and a SAR-SEP

While SAR-SEP's (Salary Reduction Simplified Employee Pensions) have been grand fathered for companies who had plans in place prior to December 31, 1996 only SIMPLE IRA's or some form of qualified retirement plan are available to businesses today! Some small employers liked the SAR-SEP design due mainly to its simplicity.

As with any plan design there are positives and negatives to consider to determine whether the simplicity of design is outweighed by it's limitations. While the SIMPLE IRA plan design may be a consideration, should you decide to upgrade from a SAR-SEP, we recommend you contact a pension specialist at EBP to determine the plan design best suited to meet your company's retirement goals. 

For a chart that provides a quick reference between the new SIMPLE IRA and the older SAR-SEP plan design - Click HereMay we convert a plan for you?

For Professional Consultation Services Contact:
Executive Benefit Plans, Inc.
Suite 1188
1186 Route 56 East
Apollo, PA 15613-9725 USA

Phone: 800-622-2411 or Fax: 724-478-1688
E-mail -
info@benefitplans.com

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Information is provided for review and consideration only. Please consult legal and tax advisors for practical advice pertaining to your business and personal situations.

This page was last reviewed and/or updated on Friday, July 03, 2015 05:21 PM

 

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