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Thread: s corp retirement plan

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    Default s corp retirement plan

    i had a s corp almost 10 years ago. i started a new s corp this year. Need to setup retirement plan for this new s corp. I look at the retirement plan for the old s corp, and see a SEP IRA and an individual 401k plan. I wanted to do the same setup as before, but can not remember everything. Trying to google it, but still not understand it all.
    here is what i remember, the SEP IRA is funded by the s corp. the individual 401k is funded by me. is this correct?

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    I'm sorry to say I have no idea how to answer your question, but I wanted to reply to keep your thread active. There are some people here who will be able to answer your questions, but they aren't always here every day. Hopefully my reply will make it more likely your thread is seen by those who can better help.
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    I know some basics but to set it up I would recommend talking to some financial institutions (Fidelity, Vanguard, etc.).

    First, employees are 100% vested in a SEP-IRA. Only you as the employer contribute to the account, employees would have to contribute to their own IRA if they wish to invest. Add to that, your contribution must be equal for all employees (I.e. if Sally gets 15% so does Bill). Employees have to have had worked for you 3 of last 5 years. The contribution limit, for 2017, is the lesser of 25% of the employee's income or $54,000. It does share similar rules with a traditional IRA also.

    Again I would highly recommend speaking with one of the financial groups to get more details.

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