SIMPLE IRA: A Retirement Plan for Small Businesses

SIMPLE IRAs

Take control of your retirement strategy

If you’re a small business owner, a SIMPLE IRA (Savings Incentive Match PLan for Employees) may be something to consider opening for your employees. If you’re an employee who has a SIMPLE IRA, you can hold your IRA at Scottrade (just like any other IRA).

SIMPLE IRA Features

Eligibility

Available to any small business (generally with 100 employees or fewer)

Employer cannot already have another retirement plan

SIMPLE IRA Contributors

Employers and employees

Annual Maximum Contribution (2013)

Employees:
$12,500 if age 49 or younger
$15,500 if age 50 or older

Employers are required to match up to 3% of the employee’s contribution

For more details on contributions, read SIMPLE IRA Contribution Limits  

Investment Options

You can choose from a wide variety of investments including stocks, bonds, mutual funds and exchange-traded funds (ETFs)

Support & Education

Receive personalized assistance from your local Scottrade team

Access our interactive retirement calculators and free investment education

 

SIMPLE Tax Advantages

Contributions

Contributions may be tax-deductible

Read more about tax-deductible contributions

Earnings  

Earnings grow tax-deferred

Withdrawals

Withdrawals prior to age 59 ½ may incur a 10% IRS penalty as well as income taxes

Withdrawals after age 59 ½ are taxed as ordinary income

 

Transparent Pricing

Account Opening Fee

$0

Account Maintenance Fee

$0

Inactivity Fee

$0

Online Trading Commission

Starting at $7 per trade
  Fees & Commissions

 

Open a SIMPLE IRA

How May We Help?

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