(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
Up to $12,500/year
annual salary deferrals (if under age 50)
Up to $15,000/year
annual salary deferrals (age 50 or over)
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.
Easy set up and administration
Easy to set up and administer with an IRS Form 5500 filing not required
Full range of investment choices
Choose from a wide range of stocks, bonds, options, 8,000+ mutual funds, and ETFs
Trade more, pay less
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