SIMPLE IRA
Introduction
1
The Savings Incentive Match Plan (SIMPLE) IRA is a convenient employer retirement plan that allows contributions from both the company and the employee.
2
SIMPLE IRAs are popular for smaller companies, and feature low start-up and administrative costs.
3
SIMPLE IRAs can acquire alternative assets such as real estate, precious metals, private equity, and more!
Self-Directed IRA Educational Videos
Foundations of Self-Directed IRAs
Start with the basics and explore this retirement account introduction. Learn how retirement plans can participate in a variety of investments, including real estate, precious metals, and more. This presentation is geared toward beginners and those who are just getting started with retirement plans.
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.
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, and employees have flexibility when it comes to how much they want to contribute.
- Employer contributions to SIMPLE IRAs mean that the employee will have more money to invest than just their own contributions.
- Funds in the account have the same tax advantages of a Traditional IRA.
- It can be used to invest in a wide variety of assets including real estate, precious metals, public and private stock, notes, and more.
It's Easy to Invest for Retirement with a SIMPLE IRA for an Employee
| Step 1 | Open a SIMPLE IRA account with New Direction IRA. |
| Step 2 | Put money in that IRA by rolling money over from an old 401(k), transferring from another IRA, and/or making a contribution. |
| Step 3 | Buy real estate, precious metals, private equity, loans, and more! |
Learn more about SIMPLE IRA Contribution and SIMPLE IRA Distribution.
For more detailed information, feel free to contact us or visit IRS.gov.