SIMPLE IRA Plans - First Horizon Advisors
SIMPLE IRA Plans

An employee retirement savings plan for business owners with 100 or fewer participating employees, SIMPLE IRA Plans require contributions from both the employer and employee. A SIMPLE IRA is set up for each participating employee, and the employee determines the investment.

Plan Features

  • Easy for self-employed individuals and small businesses
  • Employees can direct their own investments
  • Multiple investment options

Plan Benefits

  • Administrative costs are low compared to other types of plans
  • Easy to set up
  • The account is portable, so the employee keeps the IRA even if they change jobs

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