According to the IRS, a Savings Incentive Match Plan for Employees (SIMPLE IRA) is ideally suited as a start-up retirement savings plan for small employers, as it allows for retirement deferral and is administratively easier than a 401(k) or 403(b).
![457b The Simple IRA](https://wfa-asset.com/wp-content/uploads/2021/11/457b.png)
![SIMPLE2 2022 Contribution Limit](https://wfa-asset.com/wp-content/uploads/2021/11/SIMPLE2.png)
According to the IRS, a Savings Incentive Match Plan for Employees (SIMPLE IRA) is ideally suited as a start-up retirement savings plan for small employers, as it allows for retirement deferral and is administratively easier than a 401(k) or 403(b).