Simple IRA

Have less then 100 employees? Then let a Civic Banker talk to you about opening a Savings Incentive Match Plan For Employees (SIMPLE IRA) Today?

The SIMPLE IRA is a small business retirement plan where employees (including the employer) can make pre-tax contributions and receive matching employer contributions. Employee's salary deferrals, employer contributions and any investment earnings are not taxed until the employee takes the distribution. 

Maximum Contribution Levels

• Employee deferrals can be made up to $11,500 under the age of 50 or $14,000 age 50 and older or 100% of income, whichever is less. They are made throughout the calendar year with no minimum employee participation requirements.