SIMPLE IRA Plus and SIMPLE IRA plan sponsors can offer participants a new way to save for retirement by adding Roth after-tax employee deferral contributions.
To offer Roth after-tax employee deferral contributions:
All employer contributions must be made on a pretax basis at this time. For SIMPLE IRA Plus, we intend to support Roth employer contributions by 2027. For SIMPLE IRA plans, we're continuing to evaluate a Roth employer contribution option.
In our annual notification to existing plan sponsors of their disclosure documents, we include the steps to add this optional feature to their plan and notify participants.
Please visit our account resource center for SIMPLE IRA Plus and SIMPLE IRA for additional assistance with your plans. You can also learn more about the status of our support for SECURE 2.0 provisions.