If you are self-employed or a small business owner the professionals at Heartland Investment Services can help you with your retirement planning needs.  In addition to saving money toward your retirement and providing potential tax advantages, you will have an important benefit to offer current and future employees. 

SIMPLE IRA’s are designed for businesses with 100 or less employees who do not currently maintain any other retirement plan.  A SIMPLE IRA offers a salary deferral plan with less administration and a full range of investment choices.  Contributions can be made by both the employee and the employer (contribution limits apply).  Withdrawals can be made at any time, but penalties may apply.  SIMPLE IRA’s are available to sole proprietors, partnerships, C Corporations and S Corporations.  Plans must be established by October 1. 

SEP IRA’s are designed for self-employed individuals or small business owners. Including those with employees.  A SEP IRA offers flexible annual funding requirements and a full range of investment choices.  Contributions are funded entirely by employer contributions (contribution limits apply).  Withdrawals can be made at any time, but penalties may apply.  SEP IRA’s are available to sole proprietors, partnerships, C Corporations, and S Corporations.  Plans must be established by the employer’s tax filing deadline, plus extension (usually April 15). 

401(k) Plans are available to any type of public or private company.  A 401(k) plan offers flexibility, administrative services and a full range of mutual fund choices.  Contributions are funded by employee contributions (pre-tax) and employer contributions (contribution limits apply).  Withdrawals can be taken under certain circumstances such as turning age 59 ½, disability, and/or plan termination.  Hardship withdrawals may be available but are subject to a 10% penalty if you are under age 59 ½.  Loans may be available.  Deadlines for plan establishment are based on plan selection.

403(b) Plans are available to employees of educational institutions and certain non-profit organizations as determined by section 501(c)(3) of the Internal Revenue Code.  Contributions are funded by employee contributions (pre-tax) and employer contributions (contribution limits apply).  Withdrawals can be taken under certain circumstances such as turning age 59 ½ and disability.  Hardship withdrawals may be available but are subject to a 10% penalty if you are under age 59 ½.  Loans may be available.  Deadlines for plan establishment are based on plan selection.