What type of business should consider adopting a single employer plan?
(1) A profitable business (C Corporation, S Corporation, partnership, LLC or sole proprietorship), that is seeking a way to reduce its tax liabilities and to provide benefits to its employees, including owner-employees. (2) Companies that can no longer make contributions to their qualified retirement plans because the plans are over-funded. (3) Professionals and business owners who would like to protect their assets from creditors, especially individuals who are in high risk businesses (e.g. surgeons, real estate developers, manufacturers). Assets from the plan are exempt from creditors.
