Retirement Plan Options for Small Businesses

The American Institute of Certified Public Accountants and the U.S. Department of Labor have teamed together to produce an online video that helps small business owners understand the differences in the variety of retirement plans available. The video is titled "Choosing a Retirement Solution for Your Small Business" and can be downloaded for free at http://www.dol.gov/ebsa/compliance_assistance.html#23section7 . The video is located in the section titled "For Small Employers." A corresponding booklet titled "Choosing a Retirement Solution for Your Small Business" can be downloaded free of charge at http://www.dol.gov/ebsa/pdf/choosing.pdf.

The video and corresponding booklet have been developed to show how actual companies are using Simplified Employee Pension (SEP), Simple IRA and 401(k) plans to retain workers and the tax advantages of providing such accounts to their employees.

For more information small business owners may call the Employee Benefits Security Administration (EBSA) toll-free at 866-444-3272.

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William B. Riccio, CPA/CITP is a certified public accountant. He is president of Riccio & Associates and can be reached at (216) 255-6913 or by e-mail at william@ohiocpa.net.