A SIMPLE IRA plan (Savings Incentive Match PLan for Employees) can be set up by employers for their employees, and allows employees and employers to make contributions. It is ideally suited as a start-up retirement savings plan for small employers not currently sponsoring a retirement plan.
Please consult with your tax advisor on eligibility.
For more information click here.
The tax information provided is for informational purposes only and is not intended, and should not be construed, as tax advice or a recommendation. Denmark State Bank does not provide legal or tax advice and you should consult with a professional tax advisor about your individual circumstances.