Larry kratt owns a restaurant that is open 7 days a week he, Ask an Expert

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Larry Kratt owns a restaurant that is open 7 days a week. He has 25 full-time employees, but he has fairly high employee turnover. He believes that he can stabilize his workforce if he has a pension plan for his employees. Larry hears about a small business retirement plan called the SIMPLE IRA. What are the qualifications and limitations for him to establish this plan? Larry Kraft plans six more restaurants during the next 5 years. He believes that he will then have 125 employees.

a. What recommendations would you make for Larry at this time?

b. Could Larry set up a tax-sheltered annuity pension plan for his company?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92381618

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