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I am looking to set up a retirement plan for a S Corp with about 15 employees....what is going to be the best...a simple ira or a full blown 401k or a simple 401k and why???...any help would be great....

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I am looking to set up a retirement plan for a S Corp with about 15 employees....what is going to be the best...a simple ira or a full blown 401k or a simple 401k and why???...any help would be great....

Tough question. What is best depends on what you want to accomplish. Do you want to provide an incentive to stay with the company for longer periods of time? Are you trying to attract qualified employees? Are you trying to put money aside for the owner on a tax-favored basis with a minimal impact on employees?

Each of these might have a different "best" plan. My suggestion would be to talk to your company accountant. Her or she will likely have some knowledge of the issues and can give you better guidance. They also may know of a couple of different plan administrators who can set up an appropriate plan for your company.

--Peter
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