Savings Incentive Match Plan for Employees (SIMPLE) 401(k) plan
Definition: [crh] A tax-deferred retirement savings plan similar to a conventional 401(k) plan, redesigned with specific rules to meet the needs of small eDefinition: mployers. The Small Business Job Protection Act of 1996 created these plans for companies with fewer than 100 employees. An employee's contriDefinition: butions are indexed for inflation, and employers must make annual annual matching contributions.
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