A SEP IRA (or Simplified Employee Pension plan) provides an easy, flexible, low-cost retirement option if you are self-employed or a partner or owner of a corporation. A SEP retirement plan is basically a Traditional IRA that allows you to make contributions for yourself and your employees.
A SEP IRA does not have the start-up and operating costs of a conventional employer plan. Nor do you have to contribute the same amount each year. You can make tax-deductible contributions of up to 25% of each employee’s compensation (if you’re self-employed, you’re considered an employee, allowing you to save for yourself).
An individual can open and make contributions to a SEP IRA if the following requirements are met:
An employer can also impose less restrictive eligibility requirements. You can establish eligibility requirements by completing an IRS 5305-SEP form.
An employer can exclude employees from coverage based on the following:
How to determine if an Entrust self-directed SEP IRA is the right retirement plan for you:
Do you want a wider range of investment choices, including real estate, notes, private placements, and LLCs?
A self-directed SEP IRA gives you freedom over your investment options. If you're tired of the traditional options of stocks, bonds, and CDs, a self-directed SEP IRA will open the doors to real estate investments, commodity purchases, and more.
As a business owner, you know how important it is to be agile and diversify. A self-directed SEP IRA allows you to do just that by giving you complete control of your investments, and broadening your choices into areas that you know and understand.
If you already have a SEP but it doesn’t allow self-direction, you can transfer all or part of the funds to an Entrust self-directed SEP IRA without penalty.
A SIMPLE IRA (or Savings Incentive Match Plan for Employees) is a retirement account that gives employers an easy way to make contributions toward their own retirement, as well as toward the retirement of employees. Perfect for employers with 100 employees or less.
A Savings Incentive Match Plan for Employees (or a SIMPLE IRA) is a retirement account that gives employers an easy way to make contributions toward their own retirement, as well as toward the retirement of employees. A SIMPLE IRA is designed for small businesses with 100 employees or less, as well as self-employed individuals. If you are self-employed, you are considered both "employer" and "employee" under the terms of the plan.
A SIMPLE IRA is a salary-reduction plan. Employees can choose to make contributions up to the allowable limit and the employer must contribute to the plan. The employer can choose to match the employee’s contribution up to 3% of compensation (dollar for dollar), or choose to contribute 2% of compensation across the board with no matching.
A SIMPLE IRA is a tax-deferred plan, meaning contributions are made from pre-tax dollars. The amount is excluded from your gross income, and the funds are taxed when they are withdrawn upon retirement.
Any business with 100 or fewer employees in the preceding year
Elective employee salary deferral and employer matching
Required minimum distributions begin at age 72
An individual can open and make contributions to a SIMPLE IRA if the following requirements are met:
How to determine if an Entrust self-directed SIMPLE IRA is the right retirement plan for you:
A self-directed account is different than a standard account because it allows you to have more investment freedom. By establishing a self-directed SIMPLE IRA, your retirement funds can be invested in the traditional stocks and bonds, as well as alternative investments like real estate, notes, precious metals, private placements, and more.
If you currently have a SIMPLE IRA that does not allow self-direction, you can easily transfer funds to an Entrust self-directed IRA and gain access to a wide range of additional assets.
An Individual 401(k), also known as a Solo 401(k), is a retirement account that gives sole proprietors who employ only themselves, their spouse, or partners. This plan allows maximum deductions and contributions for retirement.
An Individual 401(k) plan has two components based on your role as both employer and employee:
With Entrust, you can establish the salary deferral component as either a Roth or Traditional tax-deferred plan, which reduces your taxes now and offers tax-deferred savings. With the Roth, you make after-tax contributions to the account, and future withdrawals are tax free.
You can open and make contributions to an Individual 401(k) if both of the following requirements are met:
How to determine if an Entrust self-directed Individual 401(k) is the right retirement plan for you:
In addition to the allowances above, Entrust offers you the option to choose from various service options. Explore these options to see how you can best direct your future with ease:
Outsourced service (you must have your own plan documents)
If you currently have an Individual 401(k) and want to self-direct your funds into nontraditional investments, you can transfer or rollover the funds to Entrust (without penalty) and gain access to a wide range of alternative investments, from real estate and gold to private stock and small business.