If you are an employer, you have until October 1st to set up a SIMPLE IRA for you and your employees. Unlike most other retirement plans where an employer has until December 31st to set up the plan, SIMPLE IRA’s must be set up much sooner.
A SIMPLE IRA is a great option for employers looking for an inexpensive retirement plan that allows employee contributions of up to $14,000 each. The employers only cost is to make matching contributions of up to 3%.
If you are a KFG client and are thinking of estabilshing or improving your retirement plan for 2010, give us a call today at 605-343-1400.