Pension Plan Options for Small Business Owners

Pension plans have a reputation as a relic of large corporations, but for the right small business owner, especially one later in their career with strong, stable income, they can allow contribution levels far beyond what a 401(k) or SEP IRA permits.

These plans come with more administrative complexity and commitment than simpler options, which is exactly why they tend to make sense for a specific type of business owner rather than as a default choice.