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Minimum req for small business to contribute to retirement?


In NYS what is the minimum requirement for a small business to contribute to an employee's retirement? The situation I'm dealing with involves a small office with fewer than ten employees, none of them are full time, and no benefits were offered (this was STRESSED to all from the beginning). The contribution was offered on the last day of the deadline, with no prior mention of any contribution of the type.
This just seems odd!

I'm from california, so perhaps things are a bit different there. My guess is that the owner desires to save for his/her retirement but wants to exclude making any matching contributions(2-3% of your contributions) to any employees plans. Thus the late notice. As it was stressed that no benefits were available,(matching funds from an employer would count as benefits) they weren't really being dishonest with you, as much as with the retirement plan administrators. Should you want to start saving for your retirement, it need not be only through your employer. You should be saving for unexpected costs associated with getting older, and the sooner you start, the better. Look into having paycheck deductions going into a savings account for you to fund a ira or roth account. Good luck with your job hunting!

Youve been dreaming about what it would be like to start your own small business. It has been on your mind since you were in school, and there are times, especially on Monday mornings, that you daydream about it. But, youre not really sure what it would look like. You dont have the first clue how to get started, and of course, youre afraid that you would put your heart and soul into it, only to fail and look likes a fool. You barely even talk about it out loud, because you dont want family and friends to laugh at you.

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