Accounting Question

John, age 50, has a business with the following employees:

Employee Date of Birth Employment Start Date Compensation

A 4/24/1985 6/30/2017 $56,000

B 6/25/1976 2/30/2010 $120,000

C 3/15/1987 4/25/2008 $75,000

D 2/4/1997 7/14/19 $87,000

E 2/28/1993 10/14/2012 $47,000

John earns $450,000 and has for about 4 years. There is no retirement plan now and John would like to adopt one that will give him personally the most benefit and cost the minimum amount for his employees. What plans should John consider? Explain what plan or plans would recommend to John and why you make that recommendation. For your recommended plans, be sure to include specific plan design features that the plans would include.