LeAnne Foster and John Kielich

How can you keep a retirement plan SIMPLE for a small business? One way is to find a plan easy to implement and understand. A SIMPLE IRA has two basic criteria. A company must have 100 employees or fewer (earning $5,000 or more in the preceding calendar year) and cannot have another retirement plan. Entities qualifying include C and S corporations, partnerships, and those filing a Schedule C or F.