Many small businesses want to help employees save for retirement but don’t have the financial resources to offer the traditional 401(k) savings account.
Craig Reid, president and national practice leader of retirement and wealth at Marsh McLennan Agency, shared his insights with USA Today on how a SIMPLE IRA offering can help small businesses solve this problem. He discusses how a SIMPLE IRA works, the eligibility requirements to establish and participate in one, and more.
“A SIMPLE IRA is a small-business-sponsored retirement plan that, as the name indicates, is simple to establish and maintain,” said Craig.
