Savings Incentive Match Plan for Employees

Savings Incentive Match Plan for Employees (SIMPLE) 401(k) plan

A tax-deferred retirement savings plan similar to a conventional 401(k) plan, redesigned with specific rules to meet the needs of small employers. The Small Business Job Protection Act of 1996 created these plans for companies with fewer than 100 employees. An employee's contributions are indexed for inflation, and employers must make annual annual matching contributions.

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.

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* A QCD is generally a nontaxable distribution made directly by the trustee of an IRA (other than a simplified employee pension [SEP] plan or savings incentive match plan for employees [SIMPLE] IRA) to an eligible charity.

Year-end tax planning for charitable donations

While it is true that Simplified Employee Pension (SEP) plans and Savings Incentive Match Plan for Employees (SIMPLE) have a low cost due to assets held direct to fund or managed by an investment adviser, each of these plans comes with a lack of flexibility, no loan capabilities or the ability to save to a Roth tax-free.

Changing the Future: Tailoring Customized Retirement Plans for Business Clients

To implement this plan the employer can use Form 5304-SIMPLE, Savings Incentive Match Plan for Employees of Small Employers (SIMPLE)--Not for Use With a Designated Financial Institution, or Form 5305-SIMPLE, Savings Incentive Match Plan for Employees of Small Employers (SIMPLE)--for Use With a Designated Financial Institution.

Help small businesses choose the right employee retirement plans: CPAs can help business owners make sense of the various options available

have teamed up to offer a SIMPLE IRA (or a Savings Incentive Match Plan for Employees Individual Retirement Account) to employers with 100 or fewer employees.

Jackson Enters Private Wealth and Trust Market: Portfolio Products

Small employers who have concerns about the cost and complexity of administering a retirement plan may want to establish a Savings Incentive Match Plan for Employees (SIMPLE) IRA.

Attracting and retaining great people: tips franchises need to know

Depending on its legal structure, the company could opt to fund an SEP (Simplified Employee Pension) IRA, SIMPLE (Savings Incentive Match Plan for Employees) IRA, or Keogh Retirement account.

Preparing for 2015 tax filing and the ever-evolving ACA reporting requirements

A Savings Incentive Match Plan for Employees IRA is a tax-favored retirement plan that self-employed individuals set up for themselves, or that small employers set up for themselves and their employees.

Retirement plans for self-employed

* SIMPLE (Savings Incentive Match Plan for Employees of small employers) IRA is similar to a 401(k) in that employees can contribute.

Retiring well: determine the best plan for yourself and your employees

EXHIBIT A Comparison of the Simplified Employee Pension (SEP) Plan and the Savings Incentive Match Plan for Employees (Simple) SEP Simple Design Individual IRA established for each retirement account participant (IRA) established for each participant Employer Yes-limited to 25% Yes-required matching Contributions of covered contributions; 3% employees payroll; dollar-for-dollar on contributions are employee elective not mandatory.

Retirement plans for small business owners: choosing between the SEP and the simple

A SIMPLE (or savings incentive match plan for employees) IRA, allows each employee to contribute $11,500, plus between 2% and 3% of your self-employment income.

QA: money matters

The SIMPLE Cafeteria Plan Act of 2009 would create a Simple Cafeteria Plan for small businesses that would be modeled after the Savings Incentive Match Plan for Employees (SIMPLE) pension plan enacted in 1996.