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A SIMPLE IRA plan is a Savings Incentive Match Plan for Employees. Under a SIMPLE IRA plan, employees and employers make contributions to traditional Individual Retirement Accounts (IRAs) set up for employees (including self-employed individuals), subject to certain limits. It is ideally suited as a start-up retirement savings plan for small employers who do not currently sponsor a retirement plan.
In some cases, this service may consist of deposit and non-deposit products that may or may not be FDIC insured. Non-insured FDIC products are not considered a deposit of, obligation of, nor guaranteed by the bank, and are subject to investment risk including the possible loss of principal invested.
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