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Most financial advisors begin reaching out to their SIMPLE IRA clients in late September or October. By then, it’s possible they’ve been approached by competitors touting the benefits of [...]

Your clients look to you for guidance on making sound retirement planning decisions. And if they are small, self-employed businesses, they may be even more gun-shy about adopting a retirement plan.  

Early last week, the U.S. House Ways & Means Committee unanimously introduced the “Securing a Strong Retirement Act of 2021” (SSRA and also known as “SECURE Act 2.0”).

There is still time to start retirement plans and make contributions for 2020. Further more, the amount of deductions that you may be able to get for your clients can be staggering.

It almost seems as if our industry has missed that the SECURE Act also opened the door for a brand-new way to operate pooled plans; we now have MEPs, PEPs & GoPs!

Two common investment plans are 401(k)s and SIMPLE IRAs. The plans do share similarities, but their differences are substantial.