If you’re a local business owner, a workplace retirement plan can be a powerful tool – helping you manage taxes, support employee retention and build long‑term financial security.

Despite common misconceptions, these plans aren’t just for large companies. Today’s options work for businesses of every size.

If you’re self‑employed or don’t have employees, there are three commonly used types of plans

• A SEP IRA is simple, low‑maintenance and lets you vary contributions each year.
• An owner‑only 401(k) offers higher contribution limits and borrowing features in exchange for more complexity.
• And an owner‑only defined benefit plan allows the highest contributions and provides guaranteed income. (But this option requires steady funding and more administrative work.)

If you do have employees, additional options like a SIMPLE IRA, traditional or safe harbor 401(k), or a cash balance plan may fit your needs.

A financial advisor can help you compare these choices and select the best fit for your business and your retirement goals.

This content was provided by Edward Jones for use by Lee Van Pelt, your Edward Jones financial advisor at (541) 756-0854 edwardjones.com/lee-vanpelt. This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.

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