Sara Reid, age 35, is the owner of a small business. She is trying to decide whether to go with a § 401(k) plan or a simplified employee pension plan. She is not interested in a SIMPLE § 401(k) plan. Her salary will be approximately $45,000, and she will have no employees. She asks you to provide her with information on the advantages and disadvantages of both types of plans and to give your recommendation. Draft a letter to Sara that contains your response. Her address is 1414 Canal Street, New Orleans, LA 70148.