SIMPLE IRAs
with Park Financial Advisors
A SIMPLE IRA is based on a savings incentive match plan for employees and can be a suitable way to set aside pre-tax dollars for retirement.
- Funded by employee and mandatory employer contributions
- Offers minimal costs and administration
- Employers have a choice of matching dollar-for-dollar up to the first 3% of employee pre-tax contributions or matching 2% of compensation to all eligible employees
- Works well for companies with 25 or fewer employees
- Business owner can deduct employer contributions from the company’s federal taxable income