Savings Incentive Match Plan for Employees Individual Retirement Accounts (SIMPLE IRAs) | Practical Law

Savings Incentive Match Plan for Employees Individual Retirement Accounts (SIMPLE IRAs) | Practical Law

A Practice Note providing an overview of Savings Incentive Match Plan for Employees Individual Retirement Accounts (SIMPLE IRAs). It discusses the eligibility requirements, steps for establishing and maintaining SIMPLE IRAs, contribution limits, treatment of distributions, tax treatment, and key features. In addition, the Note identifies the advantages and disadvantages of the SIMPLE IRA and considerations for a small employer.

Savings Incentive Match Plan for Employees Individual Retirement Accounts (SIMPLE IRAs)

Practical Law Practice Note 7-623-6908 (Approx. 16 pages)

Savings Incentive Match Plan for Employees Individual Retirement Accounts (SIMPLE IRAs)

by Practical Law Employee Benefits & Executive Compensation
Maintained • USA (National/Federal)
A Practice Note providing an overview of Savings Incentive Match Plan for Employees Individual Retirement Accounts (SIMPLE IRAs). It discusses the eligibility requirements, steps for establishing and maintaining SIMPLE IRAs, contribution limits, treatment of distributions, tax treatment, and key features. In addition, the Note identifies the advantages and disadvantages of the SIMPLE IRA and considerations for a small employer.