Last week, we asked what type of 401(k)s small businesses should offer their employees. First, Jerry Kalish of Retirement Plan Blog answered. Now U.S. News and World Report has come out with an article designed specifically to tell entrepreneurs how to offer 401(k)s.

But first, it tells them why they should in the first place. Basically: the notion that you can't offer 401(k)s if you have too few employees, or even are self-employed, is a total misconception. In fact, if you're an owner of a small business under 50, you can invest up to $46,000 in your 401(k) each year, taking as much as 25% of your business's profits. That's an ample tax shelter. And, according to the article, the smaller your business is, the easier it is to set up a 401(k) for yourself: if your business's assets don't exceed $250,000, there's not even any compliance paperwork.

The rest of the article offers a broad checklist for the entrepreneur looking to set up these retirement plans, both for him- or herself and for his or her employees.
-Use "open" brokers--who don't restrict the type of fund or investments for which your plan is designed.
-Don't use any old financial expert to set up your 401(k)s; use a 401(k) expert to set up your 401(k)s.
-Use a Roth 401(k)--which exploits today's low tax rates--but consider putting some money into a non-Roth account as well.
-Decide how involved you want to be in the plan's investments, and set it up accordingly: either a traditional plan, in which a financial professional makes investment choices, or a "self-directed" plan, in which you do.

What are we, and this piece, missing? Take it away.