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Section 408(p) of the Internal Revenue Code sets the law in regards to the Savings Incentive Match Plan for Employees (SIMPLE). It allows the employer to establish a basic retirement plan for any business with less than 100 employees. The employer is allowed to either match an employee elected deferral up to 3% of compensation or provide a flat 2% contribution to an employees Individual Retirement Account (IRA).

Simple Retirement Plan – Section 408(p)


There are several different retirement plans available to the small business owner.  But no plan offers so many advantages to small business as the Simple retirement plan.  The positive attributes include: 1) Easiest to understand, 2) Least amount [...]