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Establishing a SIMPLE IRA plan for only a few employees.

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  • Additional Information
    • Subject Terms:
      SMALL business; EMPLOYER contributions; RETIREMENT planning; EXECUTORS & administrators; EMPLOYEES
    • Abstract:
      The article focuses on establishing a SIMPLE IRA plan for small companies, examining its advantages, contribution limits, mandatory employer contributions, administrative requirements, and comparisons with other retirement plans like SEP plans and SIMPLE 401(k) plans. It highlights how a SIMPLE IRA plan can be an efficient option for maximizing retirement contributions, especially for owner-employees, while offering simplicity and flexibility in administration.