A simple IRA, which allows workers to contribute larger amounts than a regular IRA, is available to employees who work for firms with fewer than 100 employees.

Question

Quizplus · Accepted Answer

This is true. A SIMPLE IRA (Savings Incentive Match Plan for Employees) is a retirement plan that allows employees and employers to contribute to an individual retirement account (IRA) for the employee’s benefit. It is available to small business owners who have 100 or fewer employees.

A Simple IRA, Which Allows Workers to Contribute Larger Amounts