A SIMPLE IRA makes it easy for small businesses to provide a retirement plan for their employees. These low-maintenance plans are inexpensive and straightforward to set up. Best of all, they are easy to understand!
- No cost to establish
- No government forms to file
- No annual reporting
- No non-discrimination testing
- Pretax salary deferrals up to $16,500 (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
- Free illustration and comparison reports
We’d also like to announce the addition of 16 new funds to our SIMPLE IRA through the Advisor Mutual Fund Program, including American Funds® and funds with ESG integration, effective February 21, 2020.
Let us help you make your small business clients’ retirement SIMPLE in 2020.