If you have no common-law employees, you can offer an Individual 401(K) Plan.

If you do have employees they must be spouses, owners or partners, the best plan may be the Individual 401(k), which permits the highest aggregate percentage of contributions and flexibility. The administration is straightforward and you are the trustee, custodian and administrator, unlike IRA plans.

Other options as an employer:

If your employees are common-law, you can choose to establish a self-directed 401(k) Plan with a plan provider and add verbiage for Record Keeping Accounts. Thus, you and your employees will have the option to self-direct or invest in common investments.

Plans that we act as record keeper on where an employer could invest for employees are SEP (Simplified Employee Plans).

Plans that we act as record keeper on where employers and employees can contribute include a SIMPLE Plan.

For more information on the types of retirement plans for small businesses, please check out our Retirement Plans section.