Question one · workforce
Who needs to participate?
Owner-only plans work differently from plans that must cover
eligible employees.
A Owner only—or owner and spouse No common-law employees need coverage
B 1–25 employees A small employee population needs access
C 26–100 employees Broader participation and administration matter
D More than 100 employees SIMPLE eligibility limitations may apply
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Question two · funding
Who should control the contribution?
Employee salary deferrals support engagement; employer-only
funding offers a different kind of flexibility.
A Employees should contribute through payroll The employer can match or contribute too
B Employer-funded only The business decides whether and how much to
contribute
C Both, with maximum design flexibility Employee deferrals plus employer contributions
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Question three · objective
What matters most?
Choose the primary objective; the result will identify another
structure worth comparing.
A Lowest administrative burden Keep setup and ongoing work relatively light
B A competitive recruiting benefit Give employees a familiar payroll-deferral
experience
C Maximize owner retirement savings Seek higher contribution potential and design
flexibility
D Predictable employer cost Know the required contribution formula in advance
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Question four · commitment
How much administration can the plan support?
Greater flexibility generally brings more testing, reporting,
notices, or fiduciary responsibility.
A Keep it lean Prefer fewer ongoing plan-administration demands
B Some administration is acceptable Balanced flexibility and operating effort
C Use a full-service administrator Design flexibility justifies more support
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continue.
Educational screening only—not legal, tax, investment, actuarial,
or fiduciary advice. Plan eligibility, limits, tax credits,
required coverage, and deadlines must be confirmed for the plan
year. Sources:
IRS Publication 560
and
U.S. Department of Labor plan guide .