SMALL BUSINESS RETIREMENT PLANS
Find the Right Retirement Plan for Your Small Business
Choosing a plan is about finding the right fit for your business. Compare plans designed for small businesses and choose an option that supports how your business runs today—and where it’s headed next.
Big benefits for small businesses
Our small business plans are designed to help you stay focused on growing your business.
Simple
Designed for easy plan management, our solutions include features to help employers deliver a smooth experience.
Transparent
No hidden pricing or complexity. Just straightforward fees designed for small businesses that need predictability.
Flexible
Plan features, investment lineups, and service levels that are simple and evolve with your business.
Compare small business retirement plans
Get a quick breakdown of how these four popular retirement plans stack up against each other.
Eligibility | Business of any size | Businesses with less than 100 employees | Owner-only businesses with no full-time employees | Business with up to 75 employees |
Contribution limits | High limits (up to 25% of compensation OR $72,000) | Lower limits (up to $17,000 for 2026) | High limits (up to $72,000 for 2026) | High limits (up to $72,000 for 2026) |
Employer contributions | Required, must be an equal percentage for all eligible employees | Required, either a 2% non-elective or 3% match | Discretionary profit sharing | Optional matching or profit sharing |
Plan benefit details
Each retirement solution offers distinct advantages depending on your business structure.
SEP IRA
Designed for: Businesses of any size with variable cash flow
A Simplified Employee Pension (SEP) IRA allows you to contribute to your retirement and your employees’ accounts. Choose to make larger contributions during profitable years and skip contributions when needed.
Plan features
Owner-only contributions (tax deductible)
High contribution limits (up to $72,000 in 2026)
No requirement to contribute every year
Admin and compliance
Simple plan administration (one of the lowest effort plans to maintain)
No annual nondiscrimination testing
No employer tax filing requirements
No employer tax filing
Participant experience
Employees cannot contribute through their paychecks
Contributions are immediately 100% vested
SIMPLE IRA
Designed for: Small businesses that want straightforward benefits
The Savings Incentive Match Plan for Employees (SIMPLE) IRA offers a low-maintenance solution for smaller companies that want to offer retirement savings benefits for their employees.
Plan features
A low-cost, easy-to-manage plan
Employees can contribute from their paycheck
Employers must contribute each year
Admin and compliance
Simple plan administration
Quick online setup
No testing or Form 5500 filing requirement
Participant experience
Payroll deductions make saving automatic
Employer contributions are immediately 100% vested
Individual(k)
Designed for: Owner-only businesses that want to maximize retirement savings
Also known as a Solo 401(k), this plan allows independent contractors, solopreneurs, and businesses without employees to reduce taxable income and save for the future. Contribute as both the employer and the employee, saving more for retirement without the administrative burden of a 401(k).
Plan features
Higher contribution limits than SEP or SIMPLE IRAs
Pre-tax and Roth contribution options
Ability to borrow from your balance and repay yourself
READYSAVE® mobile app
Admin and compliance
Easy to set up and maintain
Built-in plan support
Lower administrative burden and cost
Ascensus Essentials 401(k)
Designed for: Growing teams that want a turnkey plan with high contribution limits
Not just a retirement plan—a bundled offering to fit your small business needs. Ascensus Essentials 401(k) is designed to attract and retain top talent, with the tax advantages and features needed to support a growing team.
Plan features
Available for businesses with up to 75 employees
Offers higher contribution limits than most other plans
Pre-tax employee contributions
Optional employer contributions
Optional Roth feature
Admin and compliance
Online plan setup and automated processes
Payroll integration with 500+ providers
Full-service plan administration
Compliance testing and regulatory support
Participant experience:
Automatic enrollment and automatic increase
READYSAVE® app for mobile access
Financial wellness program
Ongoing participant education
SEP IRA
Designed for: Businesses of any size with variable cash flow
A Simplified Employee Pension (SEP) IRA allows you to contribute to your retirement and your employees’ accounts. Choose to make larger contributions during profitable years and skip contributions when needed.
Plan features
Owner-only contributions (tax deductible)
High contribution limits (up to $72,000 in 2026)
No requirement to contribute every year
Admin and compliance
Simple plan administration (one of the lowest effort plans to maintain)
No annual nondiscrimination testing
No employer tax filing requirements
No employer tax filing
Participant experience
Employees cannot contribute through their paychecks
Contributions are immediately 100% vested
SIMPLE IRA
Designed for: Small businesses that want straightforward benefits
The Savings Incentive Match Plan for Employees (SIMPLE) IRA offers a low-maintenance solution for smaller companies that want to offer retirement savings benefits for their employees.
Plan features
A low-cost, easy-to-manage plan
Employees can contribute from their paycheck
Employers must contribute each year
Admin and compliance
Simple plan administration
Quick online setup
No testing or Form 5500 filing requirement
Participant experience
Payroll deductions make saving automatic
Employer contributions are immediately 100% vested
Individual(k)
Designed for: Owner-only businesses that want to maximize retirement savings
Also known as a Solo 401(k), this plan allows independent contractors, solopreneurs, and businesses without employees to reduce taxable income and save for the future. Contribute as both the employer and the employee, saving more for retirement without the administrative burden of a 401(k).
Plan features
Higher contribution limits than SEP or SIMPLE IRAs
Pre-tax and Roth contribution options
Ability to borrow from your balance and repay yourself
READYSAVE® mobile app
Admin and compliance
Easy to set up and maintain
Built-in plan support
Lower administrative burden and cost
Ascensus Essentials 401(k)
Designed for: Growing teams that want a turnkey plan with high contribution limits
Not just a retirement plan—a bundled offering to fit your small business needs. Ascensus Essentials 401(k) is designed to attract and retain top talent, with the tax advantages and features needed to support a growing team.
Plan features
Available for businesses with up to 75 employees
Offers higher contribution limits than most other plans
Pre-tax employee contributions
Optional employer contributions
Optional Roth feature
Admin and compliance
Online plan setup and automated processes
Payroll integration with 500+ providers
Full-service plan administration
Compliance testing and regulatory support
Participant experience:
Automatic enrollment and automatic increase
READYSAVE® app for mobile access
Financial wellness program
Ongoing participant education
Top questions about retirement plans
Contribution limits are typically highest for traditional 401(k) and Individual(k) plans, making them a good fit for owners who want to save more each year. SEP IRAs also allow sizeable contributions based on a percentage of compensation, while SIMPLE IRAs have lower annual limits designed for straightforward employee saving.
Traditional 401(k) plans have higher administrative requirements, such as annual IRS filings and compliance testing. Individual(k), SEP IRA, and SIMPLE IRA plans have much lower administrative burdens, with SEP and SIMPLE IRAs requiring no annual IRS filings for most small businesses.
Yes. SEP IRAs require the employer to make equal percentage contributions for all eligible employees. SIMPLE IRAs require a match or nonelective contribution. In 401(k) and Individual(k) plans, employers have more flexibility and can choose to offer matching or profit sharing.
Most plans allow you to adjust your contributions. SEP IRAs are especially flexible, letting employers vary contributions or skip them in lean years. SIMPLE IRAs and 401(k) plans also permit yearly changes, subject to IRS rules.
Many small businesses change retirement plan types as they grow. You can usually roll over assets from one plan to another but be sure to follow IRS rollover rules and consult a financial professional before making a change.
Start by assessing your business size, growth plans, and desired administrative workload. Think about your team’s makeup and how much you want to contribute personally. Comparing the side-by-side features and considering your business goals will help you narrow down the right choice.
Why partner with Ascensus?
#1
Named Retirement Leader of the Year
With Intelligence Mutual Fund & ETF Awards2
#3
Overall customer satisfaction
JD Power Retirement Plan Digital Experience3
4.8
READYSAVE® app, rated 4.8 stars
Makes it easier for participants to manage savings4
Take the next step
Starting your first plan or thinking about switching providers? Our team can help you compare your options.
Share a few details, and we’ll help you explore plans for your business.
Keep exploring
Read more about all the different ways Ascensus can help support you and your employees’ retirement goals.
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Is Your Small Business Too Small for a 401(k)?
You don’t have to own a huge corporation to offer a retirement plan. Many providers offer plans specifically designed for owner only or very small businesses.
How to Set Up a Small Business 401(k)
Learn how to set up a 401(k)—from choosing a plan type, to understanding fees and costs, to selecting the right plan provider.
1 Timing may vary based on plan design elections
2Source: With Intelligence. With Intelligence Mutual Fund & ETF Awards. February 2026. https://awards.withintelligence.com/mutualfundandetfawards/en/page/2026-winners
3Source: JD Power. 2025 U.S. Retirement Plan Digital Experience Study. September 2025.
4Source: App store rating as of April 2026. Based on user reviews from the Apple App Store® and Google Play™. Ratings may change over time and may not be representative of all user experiences. Apple and Google Play are registered trademarks of their respective owners.