- Savings Incentive Match Plan For Employees Of Small Employers - SIMPLE
- A retirement plan that may be established by employers, including self-employed individuals. The employer is allowed a tax deduction for contributions made to the SIMPLE. The employer makes either matching or non-elective contributions to each eligible employee's SIMPLE IRA and employees may make salary deferral contributions.
The employer has two alternatives when it comes to making contributions. The first is to match the amounts that each employee makes toward his or her own elective-deferral contribution up to 3% of the employee's annual compensation. The second alternative is for the employer to make a flat 2% nonelective contribution to all qualified employees, regardless of whether the employee makes any contributions.
Contributions to SIMPLE IRAs are immediately 100% vested, and the IRA owner directs the investments.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
History of post-Soviet Russia — With the dissolution of the Soviet Union in December 1991, the Russian Federation became an independent country. Russia was the largest of the fifteen republics that made up the Soviet Union, accounting for over 60% of the GDP and over half of… … Wikipedia
chile — /chil ee/, n. chili. * * * Chile Introduction Chile Background: A three year old Marxist government was overthrown in 1973 by a dictatorial military regime led by Augusto PINOCHET, who ruled until a freely elected president was installed in 1990 … Universalium
Chile — Chilean, adj., n. /chil ee/; Sp. /chee le/, n. a republic in SW South America, on the Pacific Coast. 14,508,168; 286,396 sq. mi. (741,765 sq. km). Cap.: Santiago. * * * Chile Introduction Chile Background: A three year old Marxist government was… … Universalium