Charles Schwab SIMPLE IRA
A low-cost, tax-deductible plan allowing both employees and employers to contribute.
Overview
The Charles Schwab SIMPLE IRA is a retirement plan designed for small businesses. It allows employees to make pre-tax or Roth salary deferral contributions, and employers are required to make a matching or non-elective contribution. The plan is easy to administer and has no account opening or maintenance fees.
✨ Key Features
- No opening or maintenance fees
- Employee and employer contributions
- Traditional and Roth salary deferral options (Roth available for 2026 plan year)
- Wide range of investment options
- Easy administration with no special IRS tax filing
🎯 Key Differentiators
- No account fees
- Availability of Roth contributions
- Strong customer support
Unique Value: Offers a no-fee SIMPLE IRA with the added benefit of Roth contributions, providing more tax diversification options for employees.
🎯 Use Cases (3)
✅ Best For
- A small business owner providing a tax-advantaged retirement plan for their team
- A sole proprietor who wants the ability to make both employee and employer contributions
💡 Check With Vendor
Verify these considerations match your specific requirements:
- Businesses with more than 100 employees
- Individuals who want to contribute more than the SIMPLE IRA limits
🏆 Alternatives
The upcoming availability of Roth contributions gives it an edge over providers that only offer traditional SIMPLE IRAs.
💻 Platforms
🛟 Support Options
- ✓ Email Support
- ✓ Live Chat
- ✓ Phone Support
- ✓ Dedicated Support (NA tier)
🔒 Compliance & Security
💰 Pricing
Free tier: No fee to open or maintain an account.
📊 Market Info
Customers: NA
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