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 $12,000 under the age of 50 or $14,500 age 50 and older or 100% of income, whichever is less. They are made throughout the calendar year with no minimum employee participation requirements.