A SIMPLE IRA provides an easy and economical way to establish a retirement program for you and up to 100 employees. Eligible employees may fund their own retirement accounts through salary deferral contributions. As the employer, you can make an additional contribution to eligible employee accounts.

A SIMPLE IRA may be the right option for businesses:

• With 100 or fewer employees who don’t currently have another retirement plan
• With steady income who can meet mandatory contribution requirements
• Seeking a plan that’s easy to administer and maintain
• Wishing to retain valuable employees with a retirement plan to which both the employer and employees can contribute
• That have employees wishing to make salary deferral contributions