What is a Savings Incentive Match Plan for Employees?
What is a Savings Incentive Match Plan for Employees, (SIMPLE) IRA? It is the small-company version of a 401(k) plan and it works a lot like a traditional IRA. Some of the perks are appealing, there are some definite drawbacks to SIMPLE IRAs, including lower contribution limits, the lack of a Roth version of the plan, inflexible account portability and harsher early withdrawal penalties. The attached article explains what a SIMPLE IRA is and offers the reader the pros and cons to find out whether it is the right investment account for your situation. Read article here…
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