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.
Get Started Today