Starting A Retirement Plan? SIMPLE
Published Friday, May 20, 2016 at: 7:00 AM EDT
Do you want to set up a retirement plan for your small business? Although you have several options, one popular choice is, by name and definition, simple. It's called the Savings Incentive Match Plan for Employees—or SIMPLE.
A SIMPLE plan provides a tax-advantaged way for employees, including the owner of a business, to save for retirement. It can reduce tax liability while attracting and retaining top-notch workers. And the plan is inexpensive to start up and operate, especially when compared to some other kinds of retirement plans.
To qualify to launch a SIMPLE plan, you must meet two requirements:
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