Simple IRA
- Are you an owner-only business or a business with less than 100 employees?
- Are you looking for a retirement plan with minimal paperwork and expense and flexibility of contribution limits?
- Are you currently an ADP EasyPay client?
If you answered yes to these questions, then a simple IRA may be just right for you. It offers an easy way to begin retirement savings.
Benefits:
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Save Time – seamlessly integrated with ADP payroll services.
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Save Money - low administration effort and costs minimize your expenses.
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Flexible Contributions - participants can make/receive contributions of up to $26,000* annually on a tax-deferred basis toward retirement.
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Tax Credits Available - businesses may receive a tax credit of up to $1,500 over three years for administrative expenses related to establishing a new SIMPLE IRA plan.
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Premier Investment Options - participants have a wide range of investment options through ADP's alliance with Fidelity Investments®.
Plan Highlights
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Automated contributions – employee deferrals and employer matching contributions
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Participants direct their own investments
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Secure, easy-to-use 24/7 Voice Response System for your plan participants **
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Withdrawals at any time, but IRS penalties encourage long-term savings focus
Interested in learning more? Contact us or call 1.800.432.4015.
*$26,000 is the maximum aggregate contribution limit to a SIMPLE IRA for 2008 ($26,000 includes "Catch-Up Contributions" that may be made by individuals who are, or who will reach, age 50 in 2007). This amount will be increased in future years. Note that not all participants will be eligible to receive the maximum amount of employer contributions. ADP Broker-Dealer Inc., One ADP Boulevard, Roseland, NJ 07068 serves as a broker of record for the SIMPLE IRA. Member FINRA, SIPC
**24/7 generally means account access 24 hours a day, 7 days a week, except when systems are unavailable due to scheduled maintenance.