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 $25 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
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.