Simple IRA

A SIMPLE retirement plan can be used by most small businesses with 100 or fewer employees. SIMPLE stands for “Savings Investment Match Plan for Employees;” IRA stands for  “individual retirement account.” This type of plan is not subject to government filings and compliance requirements that apply to more sophisticated plan types so it is relatively inexpensive to operate; however, it does require that an employer 1) make a mandatory 2% contribution to all eligible employees or, 2) make a dollar-for-dollar ‘matching’ contribution of up to 3% of gross pay to participating employees.

SIMPLE IRA – What You Need to Know

Contact NestEggs for more information or to set up a free consultation to discuss the retirement plan option that is right for your business.

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