Simple IRA Value Prop
Attract and retain top talent
The IRS actually designed this plan for small businesses like you - as the name says, it's meant to be a SIMPLE way to take advantage of a retirement plan, just like a larger company. Let me get my team on the line and we can get you set up.
“I’m reaching out to business owners to make sure you know about the new tax credits available with SECURE 2.0 Act. At ADP, our Retirement Services division offers some unique advantages that can help you take advantage and potentially save on taxes through payroll deductions. Let’s setup a time this week to discuss!”
You can only sell Simples to clients
False - executive contribution is an option!
4/15, or Tax Day, was a trigger event for selling Simples. Explain why.
Simple IRAs lower taxable income for both the business and the individual contributing.
My employees won't be interested.
That's ok - there are great benefits to you as the owner for contributing as well, and you never know what future employees would be interested. We can go ahead and set it up, let me get my team on the line.
How much can you put away each year into a Simple IRA?
Save up to $17,000 per year in 2026.
Simple IRAs can only be set up for companies with 10 or under employees.
FALSE - IRA limit is 100, but if we sell over 10, we only get .6. Anyone over 10, send to RS, and if it's a better simple fit, we'll get the split but best case it's worth even more!
When you are contributing to a retirement plan, you are ______ for _______.
What is SAVING FOR RETIREMENT
I'm not ready/I want to wait.
I hear you, but there can be a significant cost in waiting. The earlier you put money away, the more it can grow. You can start at whatever amount you're comfortable with! Let's go ahead and get it set up, let me get my team on the line.
How does the matching component work with a Simple IRA?
Dollar for dollar match on what the employee puts in, up to 3% of their annual income. 3% match is required 2 of the first 5 years of the plan!!
If you're over 50, you can contribute more than the 17k limit.
TRUE - Employees aged 50-59 may contribute an additional catch-up contribution of $4,000 for a total contribution of $21,000. Employees age 60-63 are allowed a higher catch-up contribution of $5,250 bringing their total contribution to $22,250
What is the easiest way for a client to manage their Simple IRA?
Simples integrate directly with RUN.
I don't want to do a match OR I want to put more away than the minimum.
No problem, we actually also offer 401k plans that have a little more flexibility in those areas. Let me get my partner on the line who can share more about how we can customize a plan for you.
Walk through the eligibility options with a Simple IRA
immediate
1 year
2 year
for 1 and 2- employee must have received 5000 in 2 preceding years to meet eligibility.
TRUE - top 1 or 2 things a candidate asks for, and for sure the most inexpensive.
S- SAVE FOR RETIREMENT
A- ATTRACT AND RETAIN TOP TALENT
I- INTEGRATES DIRECTLY WITH RUN
L- LOWER TAXABLE INCOME
No problem - I work with many CPA firms and they are huge supporters of anything that can help their clients save on taxes! Can we get them on the line right now? If not - can you do an email intro so I can talk with them directly and circle back with you?
What are the investment options with a Simple IRA?
WE CANNOT RECOMMEND!! But we can educate :) target date funds or mix and match your own.
TRUE - $100 per plan