The Savings Incentive Match Plan for Employees is a retirement plan designed for businesses with 100 or fewer employees that don’t sponsor another retirement plan. Employees can contribute a portion of their salary pre-tax, and the employer must match employee contributions up to 3% of pay or make a fixed 2% contribution for all eligible employees, regardless of whether they contribute. Employees are always 100% vested in their SIMPLE IRA money, and, as with other IRAs, funds grow tax-deferred until withdrawn. See 401(k) Plan, IRA, Rollover IRA