Charles Brown owns a small business with 60 employees. Currently his business does not have a retirement plan. He wants an easy method of offering retirement benefits to his employees. Which of the following would most likely be Charles' best option?

Question

Quizplus · Accepted Answer

A)Probably the easiest way for small businesses to provide retirement benefits is through a SIMPLE IRA plan. With the SIMPLE (for Savings Incentive Match Plan for Employees)IRA, employers must (and employees may)make contributions to traditional employee IRAs. These plans are for employers or small businesses with 100 or fewer employees and no other type of retirement plan.

Charles Brown Owns a Small Business with 60 Employees