Learn more about the Savings Incentive Match Plan for Employees.

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

Call 1-800-831-1344 to get started.

Download the Simple IRA Employee Guidebook (PDF)
Download the Simple IRA Employer Plan (PDF)

SIMPLE IRA Plan Benefits

Employee 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 participant fees when you subscribe to paperless delivery.1
  • We keep our mutual fund expenses low to help you save even more.

Easy Maintenance, Easy Saving

  • You make deductible contributions directly to individual retirement accounts (SIMPLE IRAs) for yourself and your employees.
Helpful Resources

All investments are subject to market risk, including the possible loss of principal. Mutual funds are subject to management fees and expenses.

A retirement account should be considered a long-term investment. Retirement accounts generally have expenses and account fees, which may impact the value of the account. Early withdrawals are subject to taxes and possible penalties. For more detailed information about taxes, consult a tax attorney or accountant for advice.

*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 $280,000 for tax year 2019 and $285,000 for tax year 2020. 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, and Small Business Retirement Plans); or qualify for T. Rowe Price Select Client Services. Participants can subscribe to paperless delivery via the T. Rowe Price website once their account is established. If 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. 

Call a Small Business Retirement Specialist at 1-800-831-1344 to open an account

Plan Administrators

Learn how to establish a SIMPLE IRA Plan


Learn how to open your SIMPLE IRA account