Super Finance Glossary
Over 10,000 financial glossary terms...
Savings Incentive Match Plan For Employees (SIMPLE) 401(k) Plan
Savings Incentive Match Plan For Employees (SIMPLE) 401(k) Plan
Definition: A tax-deferred retirement savings plan similar to a conventional 401(k) plan, redesigned with specific rules to meet the needs of small employers. The Small Business Job Protection Act of 1996 created these plans for companies with fewer than 100 employees. An employee's contributions are indexed for inflation, and employers must make annual annual matching contributions.
Definition: A tax-deferred retirement savings plan similar to a conventional 401(k) plan, redesigned with specific rules to meet the needs of small employers. The Small Business Job Protection Act of 1996 created these plans for companies with fewer than 100 employees. An employee's contributions are indexed for inflation, and employers must make annual annual matching contributions.
