A SIMPLE 401(k) is an administratively simplified version of the Safe Harbor Plan that is available only to small businesses (100 or fewer employees). Similar to the Safe Harbor design, SIMPLE 401(k) plans are not subject to discrimination or top-heavy rules, making them especially attractive to the small businessowner who wants simplicity as well as minimal commitment requirements. However, SIMPLE 401(k) plans have smaller maximum contribution levels than any other plan form, which may diminish their attractiveness to small businessowners that want to defer the absolute maximum amount possible to a 401(k) plan.
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