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SIMPLE IRA

(Savings Incentive Match Plan for Employees of Small Employers)

Eligibility

  • Maximum Service Requirement is any two previous years with minimum $5,000 compensation and current year expectation of $5,000 compensation.

Benefits

  • Employee is always 100% vested in (or, has ownership of) all SIMPLE IRA money

Features

  • Minimum to Open and Earn Interest: $500.00*
  • Interest cycle is annually or at maturity

*Contribution Limits Apply

**MAGI (Modified Adjusted Gross Income) Limits Apply

Please consult a tax advisor for guidance and comprehensive information about IRA's and other tax-related issues.

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