No. of Recommendations: 0
I'll be the first to say that I'm no expert on retirement plans for small businesses, however, I can certainly see how you would have the problem that you describe.

I understand that the more common plans for a small business would be a SEP or SIMPLE plan. I'm not sure about the restrictions on the SEP or SIMPLE if a 401(k) is already available. These plans are more in line with the requirements of smaller companies. In addition, they often will have higher contribution limits than 401(k) plans (limits are tied to salary amounts without the disrimination testing I believe).

Sorry I don't know specifics. Roy Lewis' "2001 Investment Tax Guide" provides a pretty good overview of these plans (no, I don't get any money from Roy).

Good luck,
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.