SIMPLE-IRA
For Government Agencies with fewer than 25 employees
A SIMPLE-IRA with administrative and investment services from the Principal Financial Group® is an affordable and easy to manage retirement plan.
You can either:
- Match your employees' contributions dollar for dollar, up to 3% of each eligible employee's gross salary (Matching contributions can't exceed $6,500 annually. In two years of any five year period, you can reduce the match to as low as 1% of salary.)
- Contribute 2% of each eligible employee's gross salary whether or not they choose to participate in the plan
