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Concord Advisors Professional Services Group is a
South Florida business alliance comprised of individuals and businesses
representing various industries.
We currently have the following members providing
employee benefits:
Retirement Accounts
Self-Employed/Small Business and
Larger Businesses
Small business owners have a number of retirement plan options to
choose from, including SEP-IRA, SIMPLE-IRA and 401(k) Plans.
Generally, these plans fall into two categories:
• Plans generally funded by employer contributions (such as
SEP-IRAs) – where the business contributes the same percentage
of compensation for you and any eligible employees you may have.
• Plans generally funded by employee elective deferrals and
employer contributions (such as SIMPLE-IRA and 401(k) Plans) –
where employees have an opportunity to defer part of their salary
to fund their retirement plans – on a tax-advantaged basis.
Contact a Retirement Specialist
Call 305-416-0101
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| SEP-IRA |
SIMPLE-IRA |
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Eligibility |
| Any self-employed individual or business owner with employees |
Businesses with 100 or fewer eligible employees who do not
currently maintain any other retirement plan |
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Key Advantage |
| Easy to set up and maintain |
Salary reduction plan with less administration |
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Funding Responsibility |
| Employer contributions only |
Funded by employee salary reduction contributions and employer
contributions |
| Self-Employed
401(k) |
401(k) for Larger
Businesses |
| Eligibility |
| Any self-employed individual or business owner with no employees
other than a spouse. |
Any type of public or private company; typical for companies
with 25 or more employees |
| Key Advantage |
| Generous contribution limits |
Features such as vesting schedule and loans |
| Funding Responsibility |
| Funded by employee salary reduction contributions and employer
contributions |
Funded by employee salary reduction contributions and employer
contributions |
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