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Simple IRA Plans

Simple IRA’s are often times the best fit for small companies that are not ready for full 401(k) plan but want to put a retirement plan in place that is low cost, easy to administer, and provides participant directed investment accounts. Below is a summary of the plan features:

Type of Company Less than 100 employees
Establish Deadline October 1st
Max EE Deferral $13,500 or $16,500 (over 50)
Employer Contribution 3% Match or 2% Non-elective
Annual Admin Cost $40 Per Participant (charged to EE)
Max Employee Eligibility 2 Year Wait

The contribution limits are lower than 401(k) plans but unlike 401(k) plans there is no discrimination testing at the end of the year. So the owner does not have to worry about money getting kick back to them at the end of the year due to failed testing. These plans have a mandatory employer contribution. Most employers elect the 3% matching contribution which is a dollar for dollar match up to 3% of comp for each eligible employee. However, that 3% match can be reduced to 1% in 2 out of any 5 consecutive years.

Simple IRA

Welcome To Our Virtual Retirement Plan Services

For companies located outside of the Capital Region, we designed a virtual employer sponsored retirement plan platform that allows us to offer our clients:

  • Easy Plan Setup
  • Plans Consulting
  • Low Fees
  • Flexible Investments
  • No Call Centers
  • Employee Education (if applicable)
  • Retirement Planning
  • Video Conferencing For Review Meetings

Contact Us  . . .


All of our services start with a complimentary consult. We can assist you in determining which plan is the right fit for your company.

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Investment advisory services offered through Greenbush Financial Group, LLC. Greenbush Financial Group, LLC is a Registered Investment Advisor. Securities offered through American Portfolio Financial Services, Inc (APFS). Member FINRA/SIPC. Greenbush Financial Group, LLC is not affiliated with APFS. APFS is not affiliated with any other named business entity. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not ensure against market risk. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investments may be appropriate for you, consult your financial advisor prior to investing. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and cannot be invested into directly.