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Self Directed Accounts - SIMPLE IRA

The Basics of SIMPLE IRA

The Savings Incentive Match Plan for Employees (SIMPLE) IRA is an IRA-based plan that gives employers an easy way to make contributions toward their employees' retirement. This is a popular plan for smaller companies, 100 employees or less. Any SIMPLE IRA can acquire "alternative" assets as long as the account is with a provider like New Direction IRA that services those assets.

 

Funding Your SIMPLE IRA

Self Directed SIMPLE IRAs are funded by an account holder making a contribution, an employer making a contribution, and/or the account holder transferring funds from another SIMPLE IRA. The employer chooses to either match up to 3% of each employee's compensation, or contribute 2% for each eligible employee, whether the employee contributes or not. Employer contributions are deductible as a business expense. Employees are not required to contribute in any given year. Once a SIMPLE IRA has been in existence for 2 years, the account holder is eligible to rollover the SIMPLE IRA into a number of other retirement account types.

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What are the Benefits of a SIMPLE IRA for an Employer?

  • Ideal for companies with less than 100 employees.
  • Low start-up and administrative costs.
  • Allows you and your employees to contribute through convenient payroll deductions.
  • May reduce business taxes.
  • Help businesses attract and retain quality employees.
  • Allows flexibility in how much to contribute to the employees' plans.
  • It can be used to invest in a wide variety of assets including real estate, precious metals, public and private stock, notes, and more.

Learn more about SIMPLE IRA Contribution and SIMPLE IRA Distribution.

Its easy to invest for retirement with a SIMPLE IRA for an Employee?

  1. Funds in the account have the same tax advantages of a Traditional IRA
  2. Employer contributions to SIMPLE IRAs mean that the employee will have more money to invest than just their own contributions
  3. Employees have flexibility when it comes to how much they want to contribute.
  4. Funds can be used to invest in a wide variety of assets including real estate, precious metals, public and private stock, notes, and more.

For more detailed information, feel free to contact us or visit IRS.gov.

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