SIMPLE IRA Plan

Benefits Practitioner | Plan Participant/Employee | Plan Sponsor/Employer

IRS Resources

SIMPLE IRA Plan

A SIMPLE IRA plan (Savings Incentive Match PLan for Employees) allows employees and employers to contribute to traditional IRAs set up for employees. It is ideally suited as a start-up retirement savings plan for small employers not currently sponsoring a retirement plan.

Choose a SIMPLE IRA Plan
Learn the basics of a SIMPLE IRA plan

Establish a SIMPLE IRA Plan
Set up a SIMPLE IRA plan

Participate in a SIMPLE IRA Plan
Benefits of participation, plan contributions, effects of withdrawing money from the plan

Operate and Maintain a SIMPLE IRA Plan
Periodically review the plan, update for recent law changes

Correct SIMPLE IRA Plan Errors
Find, fix and avoid plan errors

Terminate a SIMPLE IRA Plan
Requirements for ending a SIMPLE plan

Additional Resources
Forms. publications, frequently asked questions, etc.

Page Last Reviewed or Updated: December 16, 2011