Government pensions, often referred to as public pensions, are retirement benefit programs provided by governments at various levels, including federal, state, and local governments. These programs are designed to provide financial support to eligible individuals who have worked in public service, such as government employees, military personnel, and public educators. Here are key aspects of […]

A Self-Employed 401(k) Plan, also known as a Solo 401(k) or Individual 401(k), is a retirement plan designed for self-employed individuals, including small business owners with no full-time employees (other than a spouse). It offers a way to save for retirement with both employee and employer contributions. Here are the key features and components of […]

A Savings Incentive Match Plan for Employees (SIMPLE) IRA is a retirement plan designed for small businesses, including self-employed individuals, to provide a simplified and cost-effective way to offer retirement benefits to employees. SIMPLE IRAs are easier to set up and administer compared to some other retirement plans. Here are the key features and components […]

A Simplified Employee Pension (SEP) IRA is a retirement plan designed for small businesses and self-employed individuals. SEP IRAs provide a straightforward and cost-effective way for employers to offer retirement benefits to their employees and for self-employed individuals to save for retirement. Here are the key features and components of a SEP IRA: 1. Employer-Funded: […]