Easy, Cost-Effective Retirement Benefits for Growing Teams
A SIMPLE IRA is a streamlined, tax-advantaged retirement plan designed for small businesses with 100 or fewer employees. It’s an affordable way to offer meaningful benefits with minimal administrative effort. At AWP, we help you get up and running quickly while keeping your plan compliant and your team engaged.
Why Choose a SIMPLE IRA with Allied Wealth Planners?
We make it easy for small businesses to implement a SIMPLE IRA plan that supports both employees and the company’s bottom line. Here’s how we help:
Plan Comparison Support
- We walk you through the differences between SIMPLE IRA, Solo 401(k), and SEP IRA options to ensure you choose the right fit.
Full Setup & Documentation
- We handle all the details—from plan documentation and employee notifications to account setup and contribution schedules.
Tax-Advantaged Contributions
- Employees contribute pre-tax dollars, lowering taxable income, while your employer contributions are tax-deductible. Funds grow tax-deferred until withdrawal.
Ongoing Plan Guidance
- We provide annual reviews, help you optimize contributions, and keep you informed about IRS updates and plan changes.
Loan & Hardship Options
- Loans aren’t allowed—but hardship distributions are possible under IRS rules
Who This Plan Is For
Employers with 100 or fewer employees who earned at least $5,000 in the prior year
Employees who earned $5,000 in any two prior years and are expected to earn $5,000 this year
Small business owners, self-employed individuals, and partnerships
Companies looking for a low-cost retirement plan with minimal administration
Flexible Employer Contributions
Choose a dollar-for-dollar match up to 3% or a 2% fixed contribution for all eligible employees.
High Contribution Limits
Employee contribution limit of $15,500 in 2025, with an additional $3,500 catch-up for those age 50+.
Minimal Administration Required
No annual IRS filings; easy setup and employee notifications.
Hardship Distribution Availability
While loans aren't allowed, hardship withdrawals are permitted under IRS guidelines.
Want a plan that’s simple, effective, and built for small business?
Let’s talk about how a SIMPLE IRA can support your team without added complexity.
Related Plans
Start-Up 401(k) for Small Businesses
A simple, affordable plan built for businesses launching a 401(k) for the first time. Easy to manage and designed for growing teams of up to 1,000 employees.
SEP IRA for Freelancers & Small Business Owners
A straightforward retirement plan that’s easy to set up and maintain. Ideal for self-employed professionals or small teams looking for flexibility and tax advantages.
Personal Retirement Accounts (IRAs)
Flexible retirement plans tailored to your individual needs. A great option if you’re starting to save or want to build long-term security on your own terms.
Let’s Get to Work
No matter where you are in your financial journey, we’re here to help you move forward with confidence. Start the conversation today!