SIMPLE IRA

Design a retirement savings plan with a Savings Incentive Match Plan for Employees (SIMPLE) for your small business.

With a SIMPLE IRA plan, you and your employees will contribute to Individual Retirement Accounts (IRAs) set up for employees.*

How can a SIMPLE IRA benefit my business?

  • Set up with just a phone call to your bank
  • Pay low administrative fees
  • Use payroll deductions for tax-deferred employee contributions
  • Match participating employee contributions or contribute a fixed percentage of all eligible employees’ pay
  • Deduct contributions you make from your business expenses

Is a SIMPLE IRA right for my business? Yes, if you:

  • Employ 100 or fewer employees
  • Choose not to have any other retirement plan
  • Want an easy way to offer a tax-advantaged, company-sponsored retirement plan


Contact a business banking representative at (866) 236-8744 or stop by any location to get started.

 

Not sure which solution is right for your business? Take a few minutes to run through Business Analyzer today. We’ll ask a few simple questions about your business and provide recommendations just for you.

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