Small Business Retirement Savings Advisor

Savings Incentive Match Plans for Employees of Small Employers (SIMPLE)

SIMPLE allows employers with no more than 100 employees to sponsor a retirement plan. Employees who are expected to receive at least $5,000 (and who did so in previous 2 years) are eligible to contribute through a deduction from their paychecks. They can receive an employer matching contribution of up to 3 percent of their pay. Employers may reduce that amount if business conditions vary from year to year. SIMPLE plans require few administrative burdens since the bank or financial institution receiving the funds does most of the paperwork.

• I would like to learn more about this program. After you have reviewed information about your current program, please use the Back button to return to the Advisor.
• I would like to consider other retirement savings programs.

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