Small Business Retirement Plans

  • Individual(k)
  • SEP IRAs
  • SIMPLE and SIMPLE 401(k)
  • 401(k) / 403(b)
  • Defined Benefit Plans
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Retirement Plans

Individual(k)

Also known as a Solo 401(k) or Self-Employed 401(k), is a retirement savings plan designed for self-employed individuals or small business owners with no employees other than a spouse. It combines the features of a traditional 401(k) with the flexibility of a self-directed plan, allowing for significant savings and tax advantages.

SEP IRAs

(Simplified Employee Pension Individual Retirement Account) is a retirement plan designed for self-employed individuals, freelancers, small business owners and their employees, allowing them to save for retirement with tax advantages.  It permits only employer contributions. 

SIMPLE and SIMPLE 401(k)

SIMPLE plans are a lower-cost but less feature rich alternative to 401(k) plans.  The IRC standardized plan documents make them easy to set up and administer, but the contribution limits are slightly lower. replacement for human- to- human exchange.

401(k) / 403(b)

NWMG Advisors can work with employers of all sizes to design and build a plan that fits your company’s current and growing needs.  We collaborate with local TPAs, low-cost recordkeepers and your payroll administrator to make plan adoption as easy as possible. 

Defined Benefit Plans

Flexible plan designs allow business owners to maximize their tax-deferred contributions well beyond the limits of a traditional defined contribution plan.  They are both complex to establish and administer, requiring longer-term capital commitments. 

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FAQ

I have an existing plan, are you able to take it over?

Absolutely.  Use the Contact Us feature or Al, the ai chatbot to connect with your preferred NWMG Advisor to get started!

What are the costs associated with each plan type?

Some plans, such as Individual(k)s and SEP IRAs are subject to our standard Complete service pricing schedule.  Others, such as the Defined Benefit Plans, SIMPLE IRAs and ERISA plans are subject to many variables and require a Request for Proposal.  Contact Us for a proposal. 

Do you offer Roth style plans?

Yes, all but the Defined Benefit Plans are available as Roth.

Do Individual(k) plans permit 401(k) loans?

Yes, however you will also need to contract with a document service provider and third party administrator to maintain IRC compliance.  These will add to the costs of the plan. 

Will NWMG Advisors help me complete my IRS Form 5500?

 Yes, if your plan balance is subject to the reporting limit.

Do you help advise employers with startup plans, including the SECURE 2.0 Act tax credits?

Yes, however it is ultimately the responsibility of your tax professional to make sure you apply for and secure the qualifying tax credits.

Do you provide participant education and enrollment services after a plan is established?

Yes.  The frequency and depth of which is defined by our plan advisor engagement.

Do you offer any other plan types not included, such as ESOPs or 457 plans?

Yes.  Depending on the complexity and nature of the plan needed, NWMG can engage with third-party specialists to deliver a compliant solution in your best interest.

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