The SIMPLE IRA stands for Savings Incentive Match Plan for Employees. This plan allows the employer as well as the employee contribute to traditional IRAs. It is a great plan to start with if you are new to building retirement savings through your business. The SIMPLE IRA elective deferral limit in 2014 for a participant under age 50 is the lesser of 100% of compensation for the year or $12,000. The employer matches dollar
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