Planning For The Future

Your Retirement Matters

SIMPLE IRA... For small business owners, offering a retirement benefit is a powerful way to attract and retain talent... Matching contributions belong to the employee immediately. This means their savings are fully portable.

A Flexible Future

SIMPLE IRAs offer the security of IRAs, with added flexibility and benefits. Matching employer contributions belong to the employee immediately and can go with them whenever they leave, regardless of how long they stay with that employer. With low start up and maintenance costs and automatic contributions, a SIMPLE IRA may be the most effective way for you to save for retirement.

A SIPMLE IRA is a great solution for some smaller companies that is a low cost alternative to having a 401K or a pension plan.  With the SECURE Act 2.0 passing in 2022, the SIMPLE IRA became an even more attractive option with the addition of ROTH contributions.

A SIMPLE IRA (Savings Incentive Match Plan for Employees) allows employees to make salary-deferral contributions on a pre-tax basis (and in some cases Roth, after-tax), while requiring employers to make contributions either through a match or a fixed contribution for eligible employees. SIMPLE IRAs are straightforward to set up and maintain, have lower administrative burdens than traditional 401(k) plans, and do not require annual nondiscrimination testing. All contributions are immediately vested, meaning employees own the full balance right away, making SIMPLE IRAs an attractive and practical retirement benefit for both employers and employees.