Fidelity Advisor SIMPLE IRA

Review Fidelity Advisor SIMPLE IRA retirement plan information at a glance, such as eligibility, advantages, and much more.

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Easily establish and maintain a cost-effective retirement plan

A retirement plan for those seeking a lower-cost alternative to a 401(k).

For plan sponsors

Kit

FA SIMPLE IRA Plan Sponsor Kit

Kit

FA SIMPLE IRA Forms Kit

For employees

Guide

FA SIMPLE IRA Employee Enrollment Guide

Kit

FA SIMPLE IRA Application Kit

Fidelity Advisor SIMPLE IRA details

Target market
  • Small business owners
Prospects
  • All taxable businesses with 100 or fewer employees with $5,000 or more in compensation in the prior calendar year1
  • Corporations
  • Sole proprietorships
  • Partnerships
Benefit
  • Pretax salary deferrals with minimal administrative expenses
Plan size
  • 100 or fewer employees
Fund offering
  • Fidelity Advisor Funds® in multiple share classes
Employee eligibility
  • Learn more about compensation requirements for the current tax year
  • Certain employees may be excluded
Maximum contributions
  • Learn more about maximum contributions for the current tax year
Employer contribution
  • Dollar-for-dollar match on first 3% of annual compensation deferred by each eligible employee2

OR

  • Nonelective contribution of 2% on up to the maximum annual contribution for each eligible employee for the current tax year. Learn more about contribution requirements for the current tax year
Vesting
  • 100% immediately
Loan option
  • No
Employer costs
  • No setup or administration fee
  • Annual custodial fee deducted from employee accounts
Deadline for plan setup
  • Any time between January 1 and October 1 for current calendar year
  • For new employers established after October 1, as soon as administratively feasible
Advantages
  • Minimal paperwork, administrative expenses, and tax-filing burden
  • Pretax salary deferrals
  • Employer contributions to eligible employee accounts are deductible business expenses
  • Accepts rollovers from other qualified account types

When you’re ready to select your plan, turn to Fidelity

By working with your financial representative and Fidelity, you can help implement the most suitable retirement plan for your business and your employees. Fidelity is a leader in retirement plans and is committed to excellent service—from ease of administration, to a diverse menu of investment options, to educating your employees about their retirement plan.

Want to know more?

Let’s talk about small business plan solutions for your clients.

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1. Employer may not concurrently maintain another employer-sponsored retirement plan.

2. The employer may match less than 3%, but not less than 1%, in two out of every five years.

The above information is educational in nature and should not be construed as legal or tax advice.

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