Is It Right For You?

You've always thought of your business as small, yet these days you seem to be hiring all the time. But despite your size, you don't currently offer your employees retirement plan benefits.

You know it's the right time to initiate a benefit plan. After all, you have an increasing number of eligible employees, and you'd like to give your business a competitive edge when it comes to recruiting. You also want to start saving for your own retirement. But with a business that's growing as fast as yours, you want a plan that's easy to set up and maintain.

The Tax Benefits of a SIMPLE IRA

Contributions to yours and your employees' accounts may grow tax-deferred, and you pay no taxes on your investments earnings until withdrawal.

Additional Advantages

• A convenient way to save. You may contribute to your own retirement easily and regularly, and help your employees contribute to theirs.
• Enjoy high contribution limits. All participants, including you and your eligible employees, may make elective salary deferrals of up to 100% of compensation, or $11,500 for tax year 2009. Individuals age 50 or over may also contribute an additional $2,500 for tax year 2009. As the employer, you may match employee contributions dollar for dollar up to 3% or contribute 2% of eligible employees' compensation (up to maximum limit).
• Minimal administration. There is no IRS filing and, once you've established your plan, you and each of your eligible employees may set up SIMPLE IRA accounts.

Your Next Step

Contact a Key Investment Team advisor to help determine if a SIMPLE IRA is right for you. Be sure to establish your plan by October 1 of the year in which you intend to make contributions.

Key Investment Team does not provide tax advice. The structuring of a retirement plan can have significant tax consequences on you and your business. Investors should consult with their tax professional to determine the tax implications of this retirement plan structure.