SECURE 2.0 Act of 2022 was enacted on 12/23/2022 and could have significant impacts on how you save for retirement. For more information, view the Washington Update.
Small Business Retirement Plans
Schwab offers plans for businesses of any size. Use the information here to begin narrowing your options, or simply give us a call for help choosing the right plan for your business, whether your company employs one or many.
Individual 401(k) plan
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Individual 401(k) plans
Who it's for:
Owner-only businesses with no employees
Key features:
- All the benefits of a traditional 401(k)
- High contribution limits
- Easy to administer
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SEP-IRA
Who it's for:
Owner-only businesses or those with just a few employees
Key features:
- No IRS filing or reporting
- Allows for contributions for you and any employees
- Easy to administer
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SIMPLE IRA
Who it's for:
Businesses with up to 100 employees
Key features:
- Primarily funded with employee salary-deferral contributions
- Employer-matched contributions up to 3%
- An easy and economical plan to administer
retirement plans
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Personal Defined Benefit Plan
Who it's for:
Owner-only businesses or those with up to five employees
Key features:
- Highest contribution limits
- Contributions are generally 100% tax-deductible
- Helps target your desired level of income in retirement
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Business 401(k) Plan
Who it's for:
Businesses of any size
Key features:
- Permits a higher level of salary deferrals by employees than other plans
- Optional annual employer contributions
- Greater plan customization
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Company Retirement Account (CRA)
Who it's for:
Businesses with an established retirement plan
Key features:
- An investment-only solution
- Access to Schwab’s full range of investment options
- $0 account open or maintenance fees. Other account fees, fund expenses, and brokerage commissions may apply1.