SIMPLE Definition

SIMPLE

Definition

Savings Incentive Match Plan for Employees. A retirement plan sponsored by companies with fewer than 100 employees which is attractive for employers because it avoids some of the administrative fees and paperwork of plans such as a 401(k) plan. A SIMPLE plan may be structured as either a 401(k) or an IRA.

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SIMPLE IRA

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SIMPLE 401(k) Plan

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