What Are the Advantages to a SIMPLE Plan for Retirement

question 114

Multiple Choice

What are the advantages to a SIMPLE plan for retirement for the small business owners?

• A)The plan is very easy to set up.
• B)The plan works well for small business owners with 100 employees or less.
• C)The small business owner has some flexibility in determining how much to contribute to the plan.
• D)All of the above are correct.
• E)Only A and B are correct.

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Definitions:

United Auto Workers

A labor union in the United States representing workers in the automotive industry.

International Brotherhood

A term that can refer to solidarity among different nations or peoples, or to specific organizations aiming to promote such solidarity.

Right to Work Laws

Laws that prohibit agreements between labor unions and employers that make membership, payment of union dues, or fees a condition of employment, either before or after hiring.

Union Members

Individuals who belong to a labor union, an organization that represents workers' interests in negotiations with employers over wages, benefits, and working conditions.