Fidelity SIMPLE IRA
A simple way for small businesses to offer a retirement plan.
Overview
Fidelity's SIMPLE IRA (Savings Incentive Match Plan for Employees) is designed for small businesses and self-employed individuals. It allows employees to make pre-tax contributions, with a mandatory employer contribution (either a match or a non-elective contribution). The plan is easy to set up and maintain, with no account fees from Fidelity.
✨ Key Features
- Allows both employee and employer contributions
- Tax-deductible contributions
- Tax-deferred growth
- No account opening fees or minimums
- Easy online management of contributions
🎯 Key Differentiators
- No account fees
- Ease of administration
- Strong brand reputation
Unique Value: Provides a no-fee, easy-to-manage SIMPLE IRA with a wide range of investment options, making it an accessible retirement plan for small businesses.
🎯 Use Cases (3)
✅ Best For
- A small business owner providing a retirement match to their employees
- A sole proprietor who wants a straightforward retirement plan with both employee and employer contribution options
💡 Check With Vendor
Verify these considerations match your specific requirements:
- Businesses with more than 100 employees
- High-income earners who want to contribute more than the SIMPLE IRA limits allow
🏆 Alternatives
Offers lower contribution limits than SEP IRAs and Solo 401(k)s, but has the advantage of allowing employee contributions, which can encourage saving.
💻 Platforms
🛟 Support Options
- ✓ Email Support
- ✓ Live Chat
- ✓ Phone Support
- ✓ Dedicated Support (NA tier)
🔒 Compliance & Security
💰 Pricing
Free tier: No account fees.
📊 Market Info
Customers: NA
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