Get the latest updates for your company’s retirement plan.
SIMPLE IRA Plus
ICanRetire® for SIMPLE IRA Plus
Our fully automated, digital participant engagement program will soon be available for SIMPLE IRA Plus. ICanRetire is designed to help participants take control of their financial future and add value for plan sponsors.
Eligible employees can benefit from targeted emails that encourage them to begin saving for retirement, increase contribution levels and more. They’ll also have access to a wealth of educational content that’s designed to be fun and approachable.
ICanRetire is research-backed and behavior-focused to help enhance employee engagement at no additional cost.
New reporting enhancements coming soon
The Reports & Analysis section on the plan sponsor website will be updated in June 2025, providing a more robust reporting experience. If you have any saved templates, they won’t carry over. Please take time now to document any templates you have.
Help participants stay on track with their retirement goals
You can help plan participants create a customized retirement savings plan by encouraging them to log in to the participant website and leverage our new Retirement goals tool.
The Retirement goals tool will prompt participants to enter basic information about where they are today and the retirement they’d like to pursue. From there, the tool will show if they’re on track to reach their goals, signaling when adjustments may be needed.
SIMPLE IRA contribution limits for 2025
The annual employee contribution limits for SIMPLE IRA plans are as follows:
- For plans with 25 or fewer employees, maximum employee contributions are $17,600 with additional catch-up contributions* (age 50+) of up to $3,850.
- For plans with 26+ employees, maximum employee contributions are $16,500 with additional catch-up contributions (age 50+) of up to $3,500.
These plans can qualify for the higher employee contribution limits of $17,600 (and $3,850 catch-up) by making higher mandatory employer matching contributions of 4% of compensation or nonelective contributions of 3%.
- For employees aged 60 to 63 only, a higher catch-up contribution limit of $5,250 replaces the 50+ catch-up contribution limit.*
* If allowed by the plan. The 60-63 catch-up contribution limit is effective January 1, 2025.
ACH distributions now available
For greater convenience and security, ACH distributions are now available for participant distributions.
Participants can elect payment by ACH and input their checking or savings account information within the online distribution request process on the participant website. Electronic bank verification is then conducted through a third-party service provider as a fraud prevention measure.
For more information about online distributions and other website features, refer to our participant website demo.
Get the latest SECURE 2.0 Act provisions updates
The SECURE 2.0 Act marked a significant step toward enabling more small business owners and employees to pursue retirement stability. Get the latest updates on our recordkeeping support to help you take advantage of key SECURE 2.0 provisions.
Increased catch-up contribution limit
Effective January 1, 2025, a provision of the SECURE 2.0 Act of 2022 will increase the annual catch-up contribution limit for participants aged 60 to 63.
The increased limit will be the greater of $5,000 or 150% more than the regular catch-up limit in 2025 and indexed for inflation in following years. For plans that offer catch-up contributions, no action is needed for employees to take advantage of the increased limit.
Check the status of our recordkeeping support for other key SECURE 2.0 provisions.
Online ACH distributions available soon for participants
Beginning in mid-November, SIMPLE IRA participants will have the option of receiving their distribution proceeds via ACH direct deposit to a checking or savings account. This feature — which requires no paperwork — will help participants request distributions with greater convenience and without the risk of having a check mailed to their address of record.
Help participants save more with interactive tools
Inspire participants to save more by setting a personalized retirement goal. Our website makes it easy for participants to track their progress each time they log in ― and potentially make changes to improve their projected retirement outcome.
New help center for participants
Our new help center is designed to enable participants to find answers to common questions and better manage their retirement accounts. Topics include how to update contribution rates, managing investment portfolios, requesting distributions and more.
Our website addresses have changed
We’ve updated our retirement plan website addresses as shown below. In doing so, we hope to make it easier to do business with us, and more clearly communicate who we are and the products and services we offer. Please be sure to update your bookmarks.
Website
New address
RecordkeeperDirect
Participant
capitalgroup.com/participant/rkd
Plan sponsor
capitalgroup.com/sponsor/rkd
Third-party administrator
capitalgroup.com/tpa/rkd
PlanPremier
Participant
capitalgroup.com/participant/planpremier
capitalgroup.com/participant/planpremier
Plan sponsor/PartnerLink — PlanPremier-Bundled
capitalgroup.com/sponsor/planpremier
capitalgroup.com/sponsor/planpremier
Plan sponsor/PartnerLink — PlanPremier TPA
capitalgroup.com/sponsor/planpremiertpa
capitalgroup.com/sponsor/planpremiertpa
SIMPLE IRA Plus
Participant
capitalgroup.com/participant/simpleiraplus
capitalgroup.com/participant/simpleiraplus
Plan sponsor
capitalgroup.com/sponsor/simpleiraplus
capitalgroup.com/sponsor/simpleiraplus