Retirement Plans Comparison Tool

Note: SECURE Act 2.0, signed into law on December 29, 2022, made significant changes to federal laws governing small business retirement plans. This tool currently reflects the tax laws applicable to small business retirement plans for the 2022 tax year and has not been updated to reflect the new laws impacting business retirement plan contributions for 2023 and beyond.

When it comes to retirement savings, small business owners and independent contractors have a number of tax-favored options available including
  • SEP IRA Plans,
  • SIMPLE IRA Plans,
  • Profit-Sharing Plans, and
  • 401(k) Plans.

While it’s great to have multiple options, sometimes the sheer variety of alternatives can be overwhelming. The Retirement Plans Comparison Tool is designed to help simplify the plan selection process.