Get Answers Support Payroll Employer General What are the retirement plans offered by TaxBandits? Last modified 3/26/2025 4:09:51 AM EST We offer several retirement plans for employees to get benefits. Here the plans offered by TaxBandits 401(K) traditional: A traditional 401(K) plan is an employer-sponsored plan that provides an option for employees to invest for their retirement years. This plan allows deferrals from your paycheck on a pre-tax basis, which means that contributions are made before taxes are taken out. 401(k) Roth: This retirement plan is similar to a traditional 401(k), the only difference is contributions made by employees are not tax deferred. This plan allows deferrals from your paycheck on a post-tax basis, meaning that contributions are deducted after taxes are taken out. SIMPLE IRA: A SIMPLE IRA or Savings Incentive Match Plan for Employees(SIMPLE IRA) is a retirement savings plan that is mostly used by small businesses with fewer employees. This plan is also a tax-deferred retirement plan. Was this helpful? Yes No Need more help? Get in touch with our dedicated support team Contact Us (704) 684-4751 support@taxbandits.com Sign Up for a FREE TaxBandits Account! The Smart CPA Choice Register Now Already have an account? Sign in