A Savings Incentive Match Plan for Employees (SIMPLE) is a tax-favored retirement plan that eligible small employers (including self-employed individuals) can set up for the benefit of their employees.
A SIMPLE IRA plan can be used as a Salary Reduction IRA.
Employees can choose to make contributions up to the allowable limit. Employers must contribute to the plan by matching the employee’s contributions dollar for dollar up to 3% of the employee’s compensation, or by just contributing 2% of compensation with no matching. All contributions are made directly to the IRA established for each employee.
Contributions are Tax Deferred in a SIMPLE IRA plan.
Contributions are excluded from your gross income and are not taxed until they are withdrawn.
You can Self-Direct a SIMPLE IRA plan.
Use your Self-Directed SIMPLE IRA plan to invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals, and much more!