Simple IRA - King Of Pensions

A simple IRA falls under IRAs which are the investment vehicles for IRA-based plans.

A SIMPLE IRA plan is an IRA-based plan that gives small employers a simpler method to contribute toward their employees' senior citizen retirement and their own senior citizen retirement. Under a SIMPLE IRA plan, employees have the choice to make salary reduction contributions and the employer makes matching or nonelective contributions. All contributions are made directly to an Individual Retirement Account or Individual Retirement Annuity (IRA) set up for each employee (a SIMPLE IRA). SIMPLE IRA plans are maintained on a calendar-year basis. See IRS Publication 560, IRS Publication 590 and IRS Notice 98-4 for detailed information on SIMPLE IRA plans.