401K/Simple/SEP/Keogh Plans

These plans are used in the accumulation phase of retirement planning through business organizations .Each has specific elements making them applicable in different situations.

> 401K Plans are designed to be used within a company structure, pre tax, and allows an employer to match an employees contribution. Annual contribution amounts are determined by the design of the plan. It is possible to have a Roth component inside a 401K as well.

> Simple Plans are retirement plans for businesses with 100 or less employees who earn $5,000 or more during the preceding calendar year. In addition the business can not have another retirement plan in place.

> SEP/Simplified Employee Pension Plans are used by self -employed persons and small businesses easy to administer pension plans. Employees must meet certain initial employment and payroll levels. This plan also allow an employer to make direct contributions to the employee's account.

> KEOGH Plans are intended for self-employed individuals and owner-employees of unincorporated business or professional entities. - sole proprietors.