IRS Tax: IRS Retirement Plans Navigator - New Website from IRS

The IRS (Internal Revenue Service) has created a new web site to assist small employers on choosing the most appropriate retirement plan for themselves and their employees, or keep it compliant if they already have one.

The web site is called 'IRS Retirement Plans Navigator', 'An easy retirement plan guide for small employers'. The Navigator does not recommend the most appropriate plan automatically, but it lists all available plans for you to compare and choose from.

3 main sections of the IRS Retirement Plans Navigator is: Choose a Plan, Maintain a Plan and Correct a Plan. Plan Comparison Table is also another section worth mentioning.

IRS Retirement Plans Navigator seems a little bit simple at first, but pension laws change regularly and IRS Retirement Plans Navigator will probably include the most up to date data. Keeping this in mind, the IRS Retirement Plans Navigator will likely be used not only by small business owners, but mid-size business owners and individuals follow the last changes on the plans or check if they keep up the compliance.

A current breakdown of available plans found on IRS Retirement Plans Navigator web site is as follows:

1) Plans With IRAs
- Payroll Deduction IRA
- Simplified Employee Pension (SEP)
- SIMPLE IRA

2) 401(k) and Profit-Sharing Plans
- Safe Harbor 401(k)
- 401(k)
- Profit-Sharing

3) Defined Benefit Plan

4) Tax-Exempt Plans
- 403(b)
- 457(b) - Government Entities
- 457(b) - Tax-Exempt Organizations (Non-Church)


More about IRS Retirement Plans Navigator.