IRS free resources help employers choose and maintain retirement plans

Posted by citiYellow

Saturday, 21 January 2012 07:29

(ARA) - Are you a small-business owner thinking about offering a retirement plan to your employees? The Internal Revenue Service has free resources on starting and maintaining a retirement plan to help you make informed decisions for yourself and your employees.

Providing retirement benefits is a good way to attract and keep top talent in your company. In addition, business owners receive a tax break because contributions to a retirement plan are generally deductible.

For small-business owners who want to start a retirement plan, the IRS is a good place to begin. Written in plain language, the IRS materials give an accurate and unbiased look at the basics of various retirement plans and help the small-business owner learn the questions to ask and pitfalls to avoid in setting up and operating a plan.

"Our goal is to help small-business owners make the best decisions for themselves and their employees when it comes to saving for retirement," says Mark O'Donnell, director of customer education and outreach, IRS Office of Employee Plans.

IRS free resources include:

* Retirement Plans Navigator - a web guide to help choose a plan, maintain it and correct plan mistakes.

* Small Business Retirement Plan Resources webpage - connects you to a webcast on how to start and operate a low-maintenance retirement plan, plan maintenance reminders, frequently asked questions, newsletters, tips for employees and more.

* Widgets - portable on-screen tools that contain information on the latest retirement plans news, benefits of retirement plans and other tips. They are easy-to-use and can be posted on your website or desktop.

* Forms and Publications - plain-language publications on various types of retirement plans, plan features and programs.

Visit www.IRS.gov/retirement or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it to learn more about all the available retirement plan resources.