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SIMPLE IRA: |
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Self-directed Savings Incentive Match Plan for Employees (SIMPLE)A Savings Incentive Match Plan for Employees (SIMPLE) IRA or IRA SEP Simple is an IRA-based plan that gives employers an easy way to make contributions toward their employees' and their own retirement. This type of plan is designed for small businesses with 100 employees or less. With a self-directed IRA SEP SIMPLE, employees may choose to make salary reduction contributions while the employer makes a matching contribution up to 3 percent each year or, alternatively, a non-elective contribution of two percent of compensation. The employee can contribute up to $11,500 while the employer can match up to 3% of the employees salary. All contributions are made directly to an Individual Retirement Account (IRA) that has been established for each employee (a SIMPLE IRA). Each employee makes their own investment decisions. Eventual distributions are taxed as ordinary income. _________________________________________________________
Learn the details of how a IRA SEP Simple can work harder for you. Let's Get Started |
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