Simple IRA

SAVINGS INCENTIVE MATCH PLAN FOR EMPLOYEES OF SMALL EMPLOYERS

A Simple IRA is a tax-deferred, employer-provided retirement plan that allows employees to set aside money and invest it. Under a SIMPLE IRA plan, employees may choose to make salary reduction contributions and the employer makes matching contributions.

• Employer established retirement plan
• Employer contributions are deductible as a business expense
• Employees can make tax deferred contributions through payroll deduction
• Employers must match 100% of employees’ contribution (up to 3% of compensation) annually
• Qualified companies have less than 100 employees and no other qualified plan
• All distribution rules of a Traditional IRA apply
• Competitive rates

Simple IRA Contribution Limits