Small business owners have a number of retirement plans available to them.One type of plan is limited to employers with 100 or fewer eligible employees.Under this type of plan,small employers are exempt from most of the nondiscrimination and administrative rules that apply to qualified plans.Such plans are called

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The description provided in the question aligns with the features of a SIMPLE (Savings Incentive Match Plan for Employees) retirement plan. These plans are specifically designed for small businesses with 100 or fewer employees and offer simplified administrative and nondiscrimination rules. Option A (401(k) plans) may also be available to small businesses, but they typically have more complex rules and administrative requirements. Cash balance plans and profit-sharing plans may not necessarily have the same exemptions and simplifications as SIMPLE plans.

Small Business Owners Have a Number of Retirement Plans Available