Employees have access to individual IRAs. Depending on qualification questions, you may be offered either a Traditional IRA or Roth IRA. Employees are responsible for contributions into their own IRAs, and there is no employer contribution.
In addition, your employer may choose to establish a SEP IRA plan with employer contributions or a SIMPLE IRA plan with employee pre-tax deferrals and employer contributions or employer matching. It’s under the discretion of your employer to establish these plans.
Although Honest Dollar does not currently offer SIMPLE IRAs, please check back in the future because we are always releasing new features.
If this is something you would love please contact us to give us feedback on the importance of this feature to your company. You can have them contact us here: firstname.lastname@example.org.