An Individual Retirement Account (IRA) is a common way business owners save for retirement. You can save 3 times more in a 401(k) plan annually.
Beyond the ability to save three times more, using a small business 401(k) plan to save for retirement has several other advantages over an IRA.
A 401(k) provides a focused choice among world-class investment managers. Our carefully selected independent investment experts will select your investments so you don’t have to.
Unlike an IRA, with a 401(k), your retirement savings are held in a trust with protection from most creditors when life’s unexpected events arise, such as bankruptcy of the employee or company.
Unlike an IRA, a 401(k) offers hardship withdrawal provisions allowing employees to access retirement savings in case of unplanned events. Loans are also available that allow employees to borrow from their 401(k) balance.
If you are interested in working with a financial advisor, Sallus can match you with one of our trusted advisors to help you join the Sallus business 401(k) community.
