Series 6: Savings Incentive Match PLan For Employees (SIMPLE) Plan

Taken from our Series 6 - Investment Company Products/Variable Contracts Representative Exam

Definition of the term Savings Incentive Match PLan For Employees (SIMPLE) Plan...

retirement plan that can be used by small businesses with 100 or fewer employees. Under this play, employers can elect to make a mandatory 2% retirement account contribution to all employees or an optional matching contribution of up to 3% of the employee’s compensation.

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