A flexible retirement plan for small businesses
- Contribute up to 25% of an employee's income annually
- Employer contributions deductible as a business expense
- Offers a full range of investment options
up to 25% of compensation or $53,000
set up deadline for the plan
Why open a Profit-Sharing Plan?
It’s a great way to give your employees a tax-deferred retirement savings benefit. And it's flexible, allowing employers to contribute varying amounts each year.
Employees are eligible at age 21 and have worked at the company for at least one year (or two years if the plan does not have a vesting sechedule)
Flexible contribution amounts
Employers can contribute up to $53,000 or up to 25% of their income in 2016, percentage contributed can vary from year to year
All investment earnings are tax-deferred; participants pay taxes only upon distribution
More for you and your employees
You can create a vesting schedule for the plan, and your employees can borrow money against their accounts
Trade more, pay less
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Plan for small businesses & self-employed individuals
For small business owners or self-employed people, the Simplified Employee Pension IRA is a low-cost path to tax-deferred retirement savings.
A retirement plan similar to a 401(k)
A SIMPLE IRA is an easy, inexpensive plan for businesses with less than 100 employees.
Individual and Roth Individual 401(k)
Retirement savings for the self-employed
This plan gives self-employed individuals (with no employees other than a spouse) the ability to maximize their retirement savings.