Give your employees an added benefit and peace of mind — all without taking on large costs and administrative burdens. A SIMPLE IRA provides small companies an alternative to complex, tax-qualified retirement plans.
As your employee makes elective plan contributions, you simply match theirs. There's less reporting requirements involved. Best of all, your company's contributions are tax deductible.
*The IRS states that the employer is generally required to match each employee's salary reduction contributions on a dollar-for-dollar basis up to 3% of the employee's compensation. Instead of matching contributions, an employer can choose to make nonelective contributions of 2% of each eligible employee's compensation.