SIMPLE Plans This Fall?

SIMPLE Plans This Fall? | Susan Moussi

{2:22 minutes to read} Fall is in the air, and so a reminder about establishing SIMPLE plans, notifying employees, and making elections. SIMPLE plans are easy to set up, have a lower start-up and annual costs, and are simpler to operate in that there is no annual reporting. Employees decide how much to contribute, and the employer can choose one of two matching options. General Information

  • Plan establishment deadline date: October 1;
  • Maximum number of employees: 100; and
  • Election Period: Nov 2- December 31 (at least 60 days prior to the beginning of plan year which begins January 1).

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