SIMPLE

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Related to Impp: Xmpp, IMPO, INPP

Savings Incentive Match Plan for Employees of Small Employers

An IRA or 401(k) plan for employees of small businesses, usually with fewer than 100 employees. The employee may make tax deductible contributions, and the employer may contribute in one of two ways. The employer may either match employee contributions up to 3% of the employee's annual salary, or provide a contribution of 2% of the salary regardless of how much the employee contributes. The employee controls the investment of the contributions.

SIMPLE

A savings incentive match plan for employees that is similar to but more flexible than an IRA for businesses with 100 or fewer employees. Employees enter into a qualified salary reduction agreement to contribute a percentage of their annual compensation to a tax-deferred retirement account.

SIMPLE.

A SIMPLE, also known as a SIMPLE IRA, is short for Savings Incentive Match Plans for Employees, an employer sponsored retirement savings plan that may be offered by companies with fewer than 100 employees.

Employers must contribute to eligible employees' accounts each year in one of two ways. They can make a contribution equal to 2% of salary for every employee, or match dollar-for-dollar each employee's contribution to the plan, up to 3% of that employee's annual salary.

A SIMPLE may be set up by establishing an IRA in each employee's name or as a 401(k). Congress sets an annual dollar limit on the tax-deferred amount an employee may contribute, based on the type of SIMPLE it is. Contribution ceilings for SIMPLE-IRAs are lower than for other employer sponsored plans.

You may withdraw assets from a SIMPLE without penalty if you are 59 1/2 or older and retired. And you must begin taking minimum required distributions by April 1 of the year following the year you turn 70 1/2 unless you're still working. Taxes are due on distributions at your regular tax rate.

You may roll your assets over into another employer plan or an IRA if you leave your job for any reason or retire.

Two key differences between SIMPLEs and other employer plans are that your account must be open at least two years before you can withdraw or move the money, and the federal tax penalty for early withdrawal is 25% of the amount you take, rather than 10%.

References in periodicals archive ?
With the BPNN algorithm, the nonlinear relationships between the objectives and IMPP can be established.
Therefore, the M-SVR algorithm was also adopted to establish a nonlinear model in terms of objectives and IMPP, so that we could compare the prediction ability of the two algorithms.
Screening Significant IMPP. There may be a number of IMPP that can affect the quality of the injection products.
The results show that the corresponding P value of some IMPP is not more than 0.05, indicating it has a significant effect on the objectives, which must be considered during the optimization.
In order to further improve the quality of optical lens, this paper established the mapping relationships between the key IMPP and objectives and conducted a global optimization using the multiobjective intelligent optimization algorithm, NSGA-II.
The input variables of the BPNN and M-SVR were the significant IMPP discussed earlier, and the output variables were HR and P[V.sub.20] of optical lens, where the BPNN model adopted a three-layer structure, and the number of neurons in the hidden layer was determined by experience or trial-and-error method.
After the approximate treatment was performed on the optimized IMPP and the corresponding objectives, the results are as shown in Table 9.