"They are great for small companies, and especially I like to allow employees to chose their own account brokerage under the plan. That's why."

Much easier than a SEP as the business owner (Schedule C or F) knows exactly how much he can contribute throughout the year (so long as there is profit to cover).

I had a simple ever since I started congress allowed them with 1996's Small Business Job Protection Act. Best thing I ever did for my retirement.