Specific Types of Retirement Plans

Employer-Sponsored Retirement Plans
There are two major types of employer-sponsored retirement plans. They are called defined contribution plans and defined benefit plans. A defined benefit plan offers benefits to a business owner but has significant complexities and costs. We will not discuss it here. Please contact us if you would like further details. We will only cover the most common kinds of defined contribution plans or their equivalents.

Read more on Employer-Sponsored Retirement Plans.

IRA Plans
At the moment there are two kinds of individually-owned and individually-directed retirement programs. They are Individual Retirement Arrangement (IRA's) and Roth Individual Retirement Arrangement (Roth IRA's). These two differnt types of accounts have very different tax considerations.

Read more on IRA Plans.

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