SIMPLE IRA

(Savings Incentive Match Plan for Employees)

A retirement plan similar to a 401(k) 
  • Easy and inexpensive to administer
  • For businesses with fewer than 100 employees
  • Deductible employee and employer contributions
  • Use the Small Business Selector to find a plan

Up to $12,500/year

annual salary deferrals (if under age 50)

Up to $15,000/year

annual salary deferrals (age 50 or over)

Employer and employee contributions - image

Eligibility information

Available for self-employed individuals and business owners with fewer than 100 employees

Set-up & contribution deadline

Must be established by October 1. Contribution deadline is the employer's tax filing deadline, including extensions.

Tax deduction on contributions - image

Easy set up and administration

Easy to set up and administer with an IRS Form 5500 filing not required

full range of investment choices -  image

Full range of investment choices

Choose from a wide range of stocks, bonds, options, 8,000+ mutual funds, and ETFs

Get up to $600 plus 60 days of commission-free trades for deposits of $10k or more.1 How it works

Get up to $600 plus 60 days of commission-free trades for deposits of $10k or more.1 How it works

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Retirement savings for the self-employed
 

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