Besides the new DB(k) plan option (see Meet the DB(k): Hybrid retirement plan debuts Jan. 1), small business owners can choose from a wide variety of qualified retirement plans, subject to a bewildering array of rules. Now the IRS wants to help you chart your course. It has launched a new online resource called the Retirement Plans Navigator. (IRS News Release IR-2009-91)
This easy-to-follow guide focuses on three main areas: choosing a plan, maintaining a plan and correcting a plan. It also includes a comparison table featuring 401(k)s, SEPs, SIMPLEs, payroll deduction IRAs, profit-sharing plans, defined benefit plans and plans for tax-exempt groups.
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