SIMPLE IRAs

Small-business owners know the importance of attracting and retaining the best employees. As these businesses face their competition, any edge can make the difference. Putnam's SIMPLE IRA gives small-business owners a competitive advantage: a flexible, convenient, and affordable way to offer tax-advantaged retirement plans to their employees. Plus, it is a great way to jump-start their own savings.

Today's opportunity

Putnam's SIMPLE IRA provides small-business owners with a powerful and affordable benefit for their employees. The plan allows both employers and employees to make tax-advantaged contributions.

Investors who could benefit

  • Companies with fewer than 100 employees, seeking an affordable and flexible retirement plan option.
  • Small companies (including professional corporations, C and S corporations, and single-employee corporations) with no more than 100 employees and no existing retirement or pension plan.

Take advantage: Putnam Small Business SIMPLE IRA

  • Tax deductible employer contributions and pretax employee contributions.
  • Employer flexibility to choose between incentive match and non-elective contribution options from year to year.
  • Any eligible employee of a company that offers a Putnam SIMPLE IRA may contribute up to $12,500 in 2017 ($15,500 for employees age 50 and over; limits in subsequent years will be indexed for inflation).
  • All plan administration costs are covered by a low annual fee of $15 per employee.
  • Online advice and guidance available to all plan participants.
  • Comprehensive website enables plan sponsors to check all relevant information, including participation rates, deferral rates, account balance, and more.
  • No annual form 5500 or discrimination testing.

Resources

Use Type
Review the benefits of a Putnam SIMPLE IRA. PDF
Review the 2017 tax rates, schedules, and contribution limits PDF
Review the 2016 tax rates, schedules, and contribution limits. PDF
Download fillable applications and forms for the Putnam SIMPLE IRA. Web page

Withdrawals are subject to income tax, and those made before age 59½ may be subject to an additional 10% tax.