Simple IRA Retirement Plan

A Simple IRA is the simplest kind of salary-deferral plan.
Maximum Eligibility:

• $5,000 in any 2 prior years,
  and;
  $5,000 expected in current year.
  
  
• $10,500 deferral limit,
  and;
  Employees over 50 may be allowed a "catch-up" election to defer an additional $2,500.

Employer must either contribute:

• 100% Match to 3% compensation($6,150 max).
  Match must not be less than 1% in any year
  and
  must be 3% in 3 of any 5 years.
  or;
  2% of compensation for all eligible employees
  
  
• 100% vested at all times