Reported 3 days ago
SIMPLE IRAs are retirement plans tailored for small businesses with fewer than 100 employees, combining ease of administration with mandatory employer contributions. Employees can contribute pre-tax or after-tax amounts, with various tax implications upon withdrawal. While contribution limits are lower than in traditional 401(k) plans, SIMPLE IRAs offer immediate access to employer contributions and fewer reporting requirements, making them an appealing choice for small enterprises seeking to provide retirement benefits.
Source: YAHOO