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Get answers to all your questions about the application process and SIMPLE IRA here

What is a SIMPLE IRA plan?

A SIMPLE IRA (Savings Incentive Match Plan for Employees) is a retirement plan designed for small businesses and self-employed individuals. It offers an easy, cost-effective way to help your employees save for the future—while offering tax benefits for your business.

Why Employers Choose SIMPLE IRAs:

  • Accessible for Small Businesses - Available to companies with 100 or fewer employees who earned at least $5,000 in the previous year.
  • Flexible Contributions - Choose between matching employee contributions or making a fixed contribution—whatever fits your budget.
  • Tax Benefits - Employer contributions are tax-deductible, and the plan requires minimal administrative work.
  • Boosts Retention & Morale - Showing you care about your team’s long-term financial health can improve satisfaction and loyalty.

 

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