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Small Business

Explore workplace retirement plans for your small business

Find the plan that can meet your needs

Merrill has a workplace retirement plan that's right for you, whether you're the only one working for your business or you're considering your employees' needs too.

SIMPLE IRA

If you have 100 or fewer employees, make mandatory contributions to an easy-to-manage plan with potential tax advantages.Footnote 1

SIMPLE IRA Features

Open your account online and you won't have program or administrative fees
Take advantage of tax breaks for you and your employeesFootnote 1
Choose from a full range of investment choices at Merrill

Small Business 401(k)

Attract and retain talented employees with a low-cost 401(k) plan designed for small businesses.

Small Business 401(k) Features

Contribute more than 3 times the limit of a traditional IRAFootnote 2
Access potential tax advantages for you, your business and your employeesFootnote 1
Choose from a menu of funds chosen by Morningstar.Footnote 3

SEP IRA

Contribute as your cash flow allows with limits nearly 10 times higher than the limits for a traditional IRA.Footnote 1

SEP IRA Features

Reduce your admin with a SEP IRA, a plan that requires less paperwork
Decide how much you want to contribute
Choose from a full range of investment choices at Merrill
Of the business owners facing labor shortages, 83% are taking additional steps to retain employees and attract new talent.Footnote 5
Onscreen disclosure 1: Please read important information at the end of this video.
Onscreen disclosure 2: Hypothetical small business owner is a paid actor. Not representative of any specific client experience.
Molly: I started designing jeans in my dorm room sophomore year. I never wanted to do anything else. 10 years later, I moved into this studio.
Now that I'm established, I want to make good decisions about my finances. I have some savings, a personal IRA, a few bonds.
But honestly, I don't have time to think about dinner, let alone retirement.
I have a plan for my business. So I wanted one for my retirement, too. But with all this going on, I needed something simple, affordable and easy to manage. And that's where Merrill came in.
When it comes to my future, every dollar counts. And with a retirement plan from Merrill, my business could benefit from potential tax advantages while I plan for retirement. And as I grow, Merrill could help meet my changing needs.
But it's not just about me. My employees pour their life into what they do. So I owe it to them to provide a retirement plan that they deserve.
Merrill helped me understand that having a retirement plan doesn't have to be complicated. I get personalized solutions based on my needs. And I'm not alone. I work one-on-one with a licensed Merrill Financial Solutions Advisor to consider my retirement plan options. So no matter how big or complex my company becomes, I always get the help I need.
I've been lucky; my business has really taken off. But who knows where my business or I will be in 20 years? It feels good to know I have a strategy for my future.
Voiceover: To learn more, call 855.696.6411 to speak with a Financial Solutions Advisor for Small Business.
To learn more, contact a Financial Solutions Advisor™ for Small Business.
Call 855.696.6411, Monday-Friday, 8am-10pm ET
Important information:
The case studies presented are hypothetical and do not reflect specific strategies we may have developed for actual clients. They are for illustrative purposes only and are intended to demonstrate the capabilities of Merrill. They are not intended to serve as investment advice since the availability and effectiveness of any strategy is dependent upon your individual facts and circumstances. Results will vary, and no suggestion is made about how any specific solution or strategy performed in reality.
Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.
Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as "MLPF&S" or "Merrill") makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation ("BofA Corp."). MLPF&S is a registered broker-dealer, Member SIPC and a wholly owned subsidiary of BofA Corp.
Investment products:
Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value
© 2023 Bank of America Corporation. All rights reserved. MAP3654432

What can Merrill do for your small business?

Discover the benefits of having a retirement plan for your small business with Merrill.

Explore more benefits for your business available through Bank of America and Merrill

Check out all the Bank of America small business resources.
Plus, learn about rewards available through Bank of America Preferred Rewards for Business.

Managing finances for your business has never been easier

  • Simplify your account management with a single login for Merrill investing and Bank of America banking accounts
  • Access competitive pricing and outstanding customer service available through Merrill
  • Manage your plan and invest anytime, anywhere with our secure mobile app

Which IRA is right for your business?

Compare the features of IRAs available at Merrill and find out which one works best for you, your business and any employees you may have.

Explore all plans available for small business

Get more details about small business retirement plans available at Merrill and find the one that works best for your needs.

Ready to get started?

If you have questions, contact a specialist at 855.667.9451

Frequently Asked Questions

Footnote 1 For more information on contribution limits, visit irs.gov popup.

Footnote 2 Contribution and compensation limits are subject to an annual cost-of-living adjustment pursuant to the Internal Revenue Code. Contribution and compensation limits for subsequent years may vary. For additional details visit irs.gov popup

Footnote 3 Plan- and participant-level administrative and recordkeeping services for Merrill Small Business 401(k) plans are provided by Plan Administrators, Inc. (PAi). Investment advisory and fiduciary services are provided by Morningstar Investment Management LLC, a registered investment advisor and wholly owned subsidiary of Morningstar, Inc. Morningstar Investment Management LLC is a provider of investment management solutions, including investment advisory and retirement plan services. Educational call center support will be provided by PAi. Bank of America Corporation, PAi and Morningstar Investment Management LLC are not affiliated.

Footnote 4 Please consider the advantages and disadvantages of taking a loan before initiating one. For more information about loans and withdrawals visit Know the facts about loans and withdrawals (PDF).

Footnote 5 For more information, visit Bank of America's Small Business Report (PDF). Published May 3, 2022.

Footnote 6 Based on internal data as of October 14, 2022.

MAP49780460-1112023
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Investing in securities involves risks, and there is always the potential of losing money when you invest in securities.

Asset allocation, diversification, and rebalancing do not ensure a profit or protect against loss in declining markets.
Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.

This material is not intended as a recommendation, offer or solicitation for the purchase or sale of any security or investment strategy. Merrill offers a broad range of brokerage, investment advisory (including financial planning) and other services. Additional information is available in our Client Relationship Summary (PDF).

Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as "MLPF&S" or "Merrill") makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation ("BofA Corp."). MLPF&S is a registered broker-dealer, registered investment adviser, Member Securities Investor Protection (SIPC) popup and a wholly owned subsidiary of Bank of America Corporation ("BofA Corp").
Merrill Lynch Life Agency Inc. (MLLA) is a licensed insurance agency and wholly owned subsidiary of BofA Corp.

Banking products are provided by Bank of America, N.A. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation.

Investment products offered through MLPF&S and insurance and annuity products offered through MLLA:
Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value
Are Not Deposits Are Not Insured by Any Federal Government Agency Are Not a Condition to Any Banking Service or Activity


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