Savings Incentive Match Plan for Employees of Small Employers - SIMPLE

Savings Incentive Match Plan for Employees of Small Employers - SIMPLE

A retirement plan that may be established by employers, including self-employed individuals. The employer is allowed a tax deduction for contributions made to the SIMPLE. The employer makes either matching or non-elective contributions to each eligible employee's SIMPLE IRA and employees may make salary deferral contributions.

Notes:

Contributions to SIMPLE IRAs are immediately 100% vested, and the IRA owner directs the investments.

See also: IRA, Roth IRA, SEP, Traditional IRA