Business Retirement
Supercharge Your Savings & Retain Employees
The retirement piece of an owner's plan, in one place: the high-limit ways to turn good years into long-term savings, and the benefits that help you keep the people who make the business run.
What this covers
High-Limit Owner Plans
Utilize Solo 401(k)s, SEP IRAs, or Profit Sharing to convert company success into savings.
A business owner can usually set aside far more than someone limited to a personal IRA, and which plan gets you there depends on your situation. A SEP IRA is funded entirely by the business, takes very little to open, and lets you decide each year what to put in, which suits income that moves around. A Solo 401(k) fits an owner with no employees other than a spouse and lets you contribute as both the employee and the employer. Profit sharing sits on top of a plan and lets a strong year do more work than an average one. Limits are set by the IRS and change from year to year, so the current numbers are worth confirming before you fund anything.
Team Alignment
Align employee benefits with business success for long-term retention.
A retirement match is one of the few benefits a small employer can put in front of a candidate that stands up next to a much larger company. A vesting schedule means the value builds for people who stay, which turns the benefit into a reason to stay rather than a line on an offer letter. Employer contributions are also generally deductible to the business, so part of what you put in comes back at tax time.
Turnkey 401(k) Administration
Provide modern, low-cost employee benefits without the administrative headache.
Most owners who skip a 401(k) skip it because of the administration, not the cost: the compliance testing, the annual filing, the recordkeeping. Bundled providers now handle that work, at a price that did not exist for a small employer ten years ago. The practical value of an advisor here is being the one who deals with the provider, so the plan runs without landing back on your desk.
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Common questions
What retirement plan makes sense for a small business?
It depends on three things: whether you have employees, how much you want to set aside, and how much administration you are willing to take on. A SEP IRA is simple and flexible, but it requires the same contribution rate for every eligible employee. A Solo 401(k) fits an owner with no employees and allows larger contributions. A full 401(k) adds employee participation and more features, at the cost of more administration. The right fit comes out of your goals and your team, which is what Green Leaf walks through with you.
Can I set up a retirement plan if I am the only employee?
Yes. A Solo 401(k) is built for exactly that, an owner with no employees other than a spouse, and it lets you contribute in two capacities, as the employee and as the business. A SEP IRA also works for a business of one and is simpler to open. Both remain available if you later hire, though adding employees changes what each one requires of you.
Is it too late in the year to start a plan?
Often not. Some plans can be established after the calendar year ends and still count for that year, while others have to be in place before December 31. The deadlines differ by plan type and they move, so it is worth asking rather than assuming you have missed the window.
Not sure which plan fits your business?
Book a conversation with Noah M RankinThis page is educational and is not investment, tax, or legal advice. Retirement plan rules and contribution limits change. Talk with a qualified professional about your own situation before acting.