A retirement plan isn't just an employee benefit — it's a tax advantage for your business and a powerful recruiting tool. We help Utah businesses set up and manage retirement plans that work.
The right retirement plan depends on your business size, budget, and goals. Here are the most common options for Utah businesses:
Employee contributions with optional employer match. The most popular retirement plan for businesses with employees.
Avoids complex compliance testing by requiring minimum employer contributions.
Easy-to-administer retirement plan for businesses with 100 or fewer employees.
Employer-only contributions. Simple to set up and great for self-employed individuals and small businesses.
After-tax contributions that grow and withdraw tax-free in retirement.
Discretionary employer contributions based on company profitability.
Any business looking to attract talent, reduce tax liability, and help employees build financial security should offer a retirement plan.
Setup costs range from $500–$2,000 depending on the provider. Ongoing administration costs are typically $50–$150/month plus per-participant fees. Tax credits may offset much of this cost.
With a traditional 401(k), matching is optional. Safe Harbor 401(k) plans require a minimum match. SIMPLE IRAs require either matching or non-elective contributions.
Employer contributions are tax-deductible. Small businesses may also qualify for up to $5,000/year in SECURE Act 2.0 startup tax credits.
Yes. Solo 401(k) and SEP IRA plans are designed for self-employed individuals and owner-only businesses.
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