SIMPLE IRA Retirement Plan
A SIMPLE solution for businesses with 100 or fewer employees:
A collection of individual IRAs with a participant-level advisor relationship.
Higher contribution limits — Participants can contribute more than with a traditional IRA, and employer contributions or matching are required.
Tax benefits — Employer contributions qualify as a tax-deductible business expense.
Affordable cost — A low cost solution for both the business and participant..
Easy plan design — No complex IRS reports to complete and no annual nondiscrimination testing required.
Quality investments — Choose from a wide range of mutual funds.
We can Set up your SIMPLE IRA for your business and employees!
- No cost to establish
- No government forms to file
- No annual reporting
- No non-discrimination testing
- Pretax salary deferrals up to the annual limits (including catch-up contributions)
- Mandatory employer match of dollar for dollar up to 3% of compensation or 2% non-elective contribution
- Reduced matching contribution is available in 2 out of 5 years
- Tax-deferred account growth
- Minimal employer involvement
- Up to 2-year waiting period
https://www.irs.gov/retirement-plans/plan-sponsor/simple-ira-plan
