Statements (59)
| Predicate | Object |
|---|---|
| gptkbp:instance_of |
gptkb:urban_area
|
| gptkbp:administrative_requirements |
minimal compared to other plans
|
| gptkbp:allows |
employee contributions
|
| gptkbp:beneficiary |
can be specified by the account holder
|
| gptkbp:benefits |
available for contributions
|
| gptkbp:catch-up_contribution_limit |
$3,000
|
| gptkbp:consequences |
contributions are tax-deductible
|
| gptkbp:contribution_adjustments |
allowed annually
|
| gptkbp:contribution_flexibility |
allows for varying amounts each year
|
| gptkbp:contribution_frequency |
can be made on a regular basis
|
| gptkbp:contribution_matching |
optional for employers
|
| gptkbp:designed_for |
small businesses
|
| gptkbp:eligible_employers |
businesses with 100 or fewer employees
|
| gptkbp:employee_education |
important for maximizing benefits
|
| gptkbp:employee_eligibility |
must earn at least $5,000 in any two preceding years
|
| gptkbp:employee_notification |
required annually
|
| gptkbp:employee_participation |
voluntary
|
| gptkbp:employer_contribution_requirement |
2% of employee's salary or 3% matching
|
| gptkbp:employer_responsibilities |
must contribute or match
|
| gptkbp:established_in |
IRS regulations
|
| gptkbp:financials |
important for participants
can administer the plan should include retirement accounts |
| gptkbp:funding |
$13,500
pre-tax contributions employee salary deferrals salary deferral |
| gptkbp:future_goals |
should be aligned with retirement planning
|
| gptkbp:has |
employer matching contributions
|
| gptkbp:has_diversity_initiatives |
recommended for risk management
|
| https://www.w3.org/2000/01/rdf-schema#label |
Simple IRA
|
| gptkbp:investment |
mutual funds
long-term recommended varies by investment choice limited to certain options |
| gptkbp:mentor |
can assist with setup
|
| gptkbp:migration |
to other retirement plans
|
| gptkbp:plan_document |
must be provided to employees
|
| gptkbp:plan_features |
simple and easy to manage
|
| gptkbp:plan_setup |
requires minimal paperwork
|
| gptkbp:plan_termination |
can be done at any time
|
| gptkbp:post-retirement_withdrawals |
taxed as ordinary income
|
| gptkbp:regulatory_compliance |
may vary by state
|
| gptkbp:replaces |
lump sum or periodic payments
|
| gptkbp:reports_to |
Form 5500 not required
|
| gptkbp:requires |
annual notice to employees
|
| gptkbp:retirement_savings |
encouraged through employer participation
|
| gptkbp:rollover_options |
to other retirement accounts
|
| gptkbp:self-directed_options |
available through some providers
|
| gptkbp:submission_deadline |
October 1st
|
| gptkbp:tax_penalty_for_early_withdrawal |
10% penalty
|
| gptkbp:type |
savings plan
|
| gptkbp:type_of |
tax-deferred growth
|
| gptkbp:withdrawal_age |
59½ years
|
| gptkbp:withdrawal_penalty |
10% before age 59½
|
| gptkbp:withdrawal_process |
requires proper documentation
|
| gptkbp:withdrawal_restrictions |
apply before age 59½
|
| gptkbp:bfsParent |
gptkb:Chase_Retirement_Accounts
|
| gptkbp:bfsLayer |
7
|