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How much must an employer contribute to the Savings Incentive Match Plan for Employees (SIMPLE) IRA?

April 26, 2017contribute employees employer IRA Plan savings simple

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How much must an employer contribute to the Savings Incentive Match Plan for Employees (SIMPLE) IRA?

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Participating employers are required to make contributions each year and can do so in one of two ways. They can: Match the contributions of each participant dollar for dollar, up to 3% of his or her annual compensation (not to exceed $6,500 for 2001 and $7,000 for 2002).