Mississippi state flagRetire Mississippi

For small businesses

Start a retirement plan your business can afford.

Mississippi employers can unlock up to $3,500 in free money per employee over the next 5 years through federal SECURE 2.0 tax credits.

Safe Harbor 401(k)

Best for owners
Best for
Owners who want to max their own contributions
Contribution limits
Up to $23,500 employee + profit sharing
Employer match
Required (3% nonelective or 4% matching)
Admin burden
Medium — no annual discrimination testing

SIMPLE IRA

Simplest
Best for
Under 100 employees, minimal paperwork
Contribution limits
Up to $16,500 employee
Employer match
Required (1–3% match or 2% nonelective)
Admin burden
Very low — no Form 5500

Solo 401(k)

For solopreneurs
Best for
Owner-only or owner + spouse
Contribution limits
Up to $70,000 combined
Employer match
N/A — you are the employer
Admin burden
Low until $250K in assets

Profit Sharing Plan

Flexible
Best for
Employers who want flexible, discretionary contributions
Contribution limits
Employer-only up to 25% of payroll or $70,000
Employer match
N/A — employer decides each year
Admin burden
Medium — annual testing and Form 5500

Cash Balance Plan

High contributions
Best for
Owners 45+ wanting large tax-deferred contributions
Contribution limits
Can exceed $200,000 for older participants
Employer match
N/A — defined benefit formula
Admin burden
Higher — actuary required

Tax credit estimator

See what the IRS will pay you to start a plan.

The SECURE 2.0 Act stacks three federal tax credits for small employers who start a new 401(k).

How many W-2 employees?8 employees
Annual employer contributions$20,000

Estimated 1-year federal tax credits

$13,500

≈ $1,688 per employee in free money over 5 years

Startup admin credit (1 yr)$5,000
Employer contribution credit (1 yr)$8,000
Auto-enrollment credit (1 yr)$500

Estimates only. Actual credits depend on wages, plan design, and IRS Form 8881. Talk to a CPA for a formal quote.

Shop & compare

Compare 401(k) providers side-by-side.

Bidmoni’s marketplace lets Mississippi employers request and compare proposals from multiple 401(k) recordkeepers and advisors at once.

  • • Compare fees, funds, and fiduciary services in one place.
  • • Request proposals from providers that fit your business size.
  • • Free for employers to use the marketplace.
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