SIMPLE IRAs
Take control of your retirement strategy
If you’re a small business owner, a SIMPLE IRA (Savings Incentive Match Plan for Employees) may be something to consider opening for your employees. If you’re an employee who has a SIMPLE IRA, you can hold your IRA at Scottrade (just like any other IRA).
SIMPLE IRA Features |
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Eligibility |
Available to any small business (generally with 100 employees or fewer) Employer cannot already have another retirement plan |
SIMPLE IRA Contributors
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Employers and employees |
Annual Maximum Contribution (2016)
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Employees: Employers are required to match up to 3% of the employee’s contribution For more details on contributions, read SIMPLE IRA Contribution Limits |
Investment Options |
You can choose from a wide variety of investments including stocks, bonds, mutual funds and exchange-traded funds (ETFs) |
Support & Education |
Receive personalized assistance from your local Scottrade® team Access our interactive retirement calculator and free investment education |
SIMPLE Tax Advantages |
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Contributions |
Contributions may be tax-deductible Read more about tax-deductible contributions |
Earnings |
Earnings grow tax-deferred |
Withdrawals |
Withdrawals prior to age 59 ½ may incur a 10% IRS penalty as well as income taxes Withdrawals after age 59 ½ are taxed as ordinary income |
Transparent Pricing |
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Account Opening Fee |
$0 |
Account Maintenance Fee |
$0 |
Inactivity Fee |
$0 |
Online Trading Commission |
Starting at $7 per trade |
| Fees & Commissions | |