The Savings Incentive Match Plan for Employees (Simple) IRA is appropriate for small companies especially if the employees are less than 100 employee and they are earning $5,000 and more. The Simple IRA retirement plan has some pros, for example, it is easy to apply for through fill in the forms that are required from the IRS. Also, It does not cost anything. It does not cost a lot of money for the maintenance. IRA provides high contribution limit up to %12,000. On the other hand, there are some cons, such as, the simple IRA plan is made to be for small businesses. The employers have to make contributions to their employees even if the work is not going well. In addition, all the accounts have to open on 1st of October. Therefore, we choose
