SIMPLE IRA Plus and SIMPLE IRA plan sponsors can offer participants a new way to save for retirement by adding Roth after-tax deferral contributions. This optional plan feature is available now for new SIMPLE IRA Plus plans and available effective January 1, 2025, for new SIMPLE IRA Plans. Existing SIMPLE IRA Plus and SIMPLE IRA plans can add this feature effective January 1, 2025.
To offer Roth employee deferrals:
In our annual notification to existing plan sponsors of their disclosure documents, we include the steps to add this optional feature to their plan and notify participants.
Please visit our account resource center for additional assistance with your SIMPLE IRA Plus plans. You can also learn more about the status of our support for SECURE 2.0 provisions.
Frequently asked questions
General
SIMPLE IRA Plus
Note: All employer contributions must be made on a pre-tax basis at this time.