There is no such thing as a free lunch. There is no such thing as free advice. The more years I spend in the retirement plan business; I know that there is no such thing as a free retirement plan. When I speak of “free” retirement plans, I’m not talking about those 401(k) plans that large insurance company providers swore was free before fee disclosure regulation made that “free” plan costly. I’m talking about those retirement plans that are geared for small businesses like a SEP-IRA or a SIMPLE-IRA. While these plans are great options for small businesses, there is a cost for them even though they are “free”. This article is about the costs and caveats for these small business retirement plans.