Saving Grace

Business Start-Ups magazine, May 1998

If you're so busy getting your business off the ground that you haven't had time to think about a retirement plan, sit down and breeze through the 20-page Retirement Plans for Small Businesses, a free guide published by Boston-based Fidelity Investments. In just a few minutes, you can learn everything you need to know about available plans, their tax advantages and which is best for you.

Designed for small-business owners, the easy-to-read pamphlet explores Simplified Employee Pension Plans (SEP-IRAs), Keoghs, 401(k) plans, customized and defined benefit plans, as well as the new Savings Incentive Match Plan for Employees (SIMPLE) plans.

The easiest plan to set up and maintain is the SEP-IRA, which benefits independent contractors, consultants, freelancers and part-timer workers, says the guide. Each type is clearly explained, along with such details as contributions, tax benefits and simplicity.

To help you choose the most appropriate plan, you're asked questions and provided with a chart that compares the features and cost considerations of each plan.

For a free copy of Retirement Plans for Small Businesses, call (800) 544-5373.

Paul DeCeglie is a former staff reporter for Journal of Commerce and American Banker. He can be reached at MrWritePDC@aol.com