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.
Investopedia Commentary
Contributions to SIMPLE IRAs are immediately 100% vested, and the IRA owner directs the investments.
Related Links
Introductory Tour through Retirement Plans
Plans the Small Employer Can Establish
Introduction To SIMPLE 401(k) Plans
SIMPLE IRA Vs SIMPLE 401(k) Plans
See also: IRA, Roth IRA, SEP, Traditional IRA
Also spelled: SIMPLE