Los Angeles Divorce Attorneys/Lawyers Family Law Attorney Beverly Hills

Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) – A plan
in which a small business with 100 or fewer employees can offer retirement benefits
through employee salary reductions and matching contributions (similar to those found in a
401(k) plan). It can be either a SIMPLE IRA or a SIMPLE 401(k). SIMPLE IRA plans impose
few administrative burdens on employers because IRAs are owned by the employees and
the bank or financial institution receiving the funds does most of the paperwork. While
each has some different features, including contribution limits and the availability of loans,
required employer contributions are immediately 100 percent vested in both.

Back to Glossary

© 2007 Warren R. Shiell. All rights reserved. Los Angeles Divorce and Family Law Attorney. The information contained in
this website is an "Advertisement." It is for informational purposes only and shall not constitute legal advice. Nothing in this
Website shall be deemed to create an Attorney-Client relationship. An Attorney-Client relationship shall only be created when
this office agrees to represent a Client and a Client signs a written retainer agreement.