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March 7, 2009

Resources for Maintaining a Retirement Plan

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Saver’s Credit

Definition Also known as the Saver’s Tax Credit: Nonrefundable tax credit available to eligible individuals who make contributions to their retirement account. The saver’s credit

SIMPLE 401(k) Plan

Definition A SIMPLE 401(k) plan is a 401(k) plan established by a small business for it’s employees. Earnings accrue on a tax-deferred basis and distributions

Simplified Employee Pension (SEP) IRA

Definition An IRA based retirement plan established by an employer (business) for its employees. Under a SEP IRA, the employer makes SEP contributions to Traditional

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