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Glossary Definition

What is a SIMPLE 401(k)?

SIMPLE (short for “Savings Incentive Match Plans for Employees of Small Employers”) 401(k) plans allow businesses to offer a salary-deferral retirement plan to employees without being subject to the nondiscrimination and “top-heavy” rules that make traditional 401(k) plans more difficult and costly to administer. SIMPLE 401(k) plans are an option for businesses with no more than 100 employees who earned at least $5K in the previous calendar year, as long as the firm does not offer any other retirement plans. SIMPLE plans have lower contribution limits than traditional 401(k)s.

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Corvee Blog

Read the latest tax planning thought leadership from Corvee.

Tax Planning Strategies

Our team of tax experts has scoured tax rules and regulations to create detailed tax strategies you can use to find savings for your clients.

Corvee Blog

Read the latest tax planning thought leadership from Corvee.

Tax Planning Strategies

Our team of tax experts has scoured tax rules and regulations to create detailed tax strategies you can use to find savings for your clients.

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