Small buisnesses have a new vehicle to help their employees save for retirement.Called the SIMPLE plan--Savings Incentive Match Plan for Employees of Small Employers--it gives businesses with 100 or fewer employees an affordable way to offer retirement benefits through employee salary reductions and matching contributions (similar to those found in a 401(k) plan). This booklet highlights the basic features and requirements of SIMPLE plans that involve individual retirement accounts or annuities (SIMPLE IRAs). It does not address SIMPLE 401(k) plan arrangements.
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