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  • A SIMPLE IRA is an easy to administer, plan option for the self-employed individuals or businesses with up to 100 employees.

    Call 1.800.638.3804 to get started.
    Simple IRA Retirement Plan Simple IRA Retirement Plan
    Simple IRA Retirement Plan
    Eligibility: Businesses with up to 100 employees and self-employed individuals
    Contribution
    Guidelines:
    Up to $12,000 for tax year 2014 and $14,500 for tax year 2014 if age 50 or older
    Employer
    Contributions:
    Dollar-for-dollar match of salary deferrals, up to 3% of participant's compensation
    Non-elective contributions of 2% of each employee's compensation**
    Employee Options: Employee can decide how much to contribute
    Fees: No annual fees or set-up costs1
    Plan Set-up
    Deadline:
    October 1 of each calendar year
    Reporting
    Requirements:
    No plan tax filing is required, IRA based plan
    Investment Options: Choose from over 90 no-load mutual funds
    SIMPLE IRA Plan Benefits

    SIMPLE IRA Plan Benefits

    Participation Is Voluntary
    • Eligible employees choose if, and how much, to contribute to their SIMPLE IRA Plan.
    • Unlike other kinds of retirement plans, a SIMPLE IRA plan has no required level of participation.
    Low Costs
    • No fees or plan set-up costs when you subscribe to paperless delivery.1
    • We keep our mutual fund expenses low to help you save even more.
    • Elective salary deferral limits for SIMPLE IRA retirement plan participants.
    • Annual employer contributions are required in a SIMPLE IRA plan. Employers may choose from the following options: matching or non-elective contributions.
    Easy Maintenance, Easy Saving
    • You make deductible contributions directly to individual retirement accounts
      (SIMPLE IRAs) for yourself and your employees.
    • Participants can automatically rollover, transfer or convert to a T. Rowe Price IRA.2
    *May be as low as 1% in no more than two years out of the five consecutive calendar years

    **Maximum amount of compensation that can be used in determining contribution is $260,000 for 2014 tax year. This amount is increased periodically for inflation.

    1An annual $20 account service fee is charged for each mutual fund account with a balance below $10,000. The $20 account service fee will be waived for the following circumstances: Subscribe to electronic delivery of statements and confirmations*; maintain an individual combined balance of $50,000 or more for all T. Rowe Price accounts (including mutual funds, Brokerage, Variable Annuity, and Small Business Retirement Plans); or qualify for T. Rowe Price Select Client Services based on higher asset levels of $100,000 or more. Participants can subscribe to paperless delivery via the T. Rowe Price website once their account is established.

    2If the Participant Account is closed during the year, a $20 closeout fee will be deducted automatically from the proceeds of the total redemption. However, the closeout fee is waived when an account service fee was previously assessed to the participant account for that year or when the proceeds are being used for a rollover, transfer or conversion to a T. Rowe Price retirement plan account or T. Rowe Price IRA.