Don't overlook these!
Updated for 2012
Instead of making matching contributions, an employer may choose to make nonelective (mandatory) contributions to an employees SIMPLE IRA.
1) Matching and nonelective contributions:
For retirement plan purposes a self-employed person is considered:
Therefore, you're allowed to make two separate contributions for yourself:
The employer can choose to make nonelective contributions of 2% of compensation on behalf of each eligible employee who has at least $5,000 (or some lower amount the employer selects) of compensation from the employer for the year.
If you choose to make nonelective contributions, you must make the contributions whether or not the employee chooses to make salary reduction contributions.
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