2025 SIMPLE IRA sample disclosure documents

New for 2025

Roth salary deferral contributions
Roth employee salary deferral contributions are a new optional plan feature. We recommend consulting your financial professional to determine whether this option is right for your plan. If you offer Roth salary deferral contributions for the 2025 plan year, you must amend your plan and notify employees by November 2, 2024. Refer to Amend a SIMPLE IRA plan for more information.

Note: Employees will still have the ability to make pretax salary deferral contributions. Participants who elect to make Roth salary deferral contributions will need two accounts: a SIMPLE IRA (for pretax employer contributions) and a Roth SIMPLE IRA (for Roth salary deferral contributions). All contributions must be remitted online.

Increased catch-up limits apply to participants ages 60-63
Effective January 1, 2025, the SECURE 2.0 Act allows increased catch-up contributions for participants ages 60-63. These increased catch-up contribution limits and additional details are included in Section 4 of the Notification to Eligible Employees.

As a plan sponsor, your responsibilities include:

  1. Preparing and distributing the disclosure documents to your eligible employees prior to November 2, 2024

    Note: “Eligible employees” include all employees qualified to participate in the plan, not just those who currently make salary deferral contributions to the plan.

  2. Conducting the 2025 plan year enrollment from November 2, 2024, through December 31, 2024

Here are your 2025 sample disclosure documents (PDF):

  • Notification to Eligible Employees. This document informs employees of their eligibility to participate in the plan, specifies the salary deferral contribution type(s) (pretax only or pretax and Roth) and limits allowed by the plan and announces the type of employer contribution you will make for the next plan year. Complete this document before distributing it to eligible employees.

    Note: Higher salary deferral limits (110% of the limits that would otherwise apply) apply to smaller employers (those with no more than 25 employees who earned at least $5,000 in the prior year). Larger employers (those with more than 25 employees who earned at least $5,000 in the prior year) may voluntarily allow higher salary deferral limits but only if increased employer contributions are made. If you are a larger employer interested in offering higher limits, use the modified version of the Notification to Eligible Employees (4% matching or 3% nonelective employer contributions).

  • Summary Plan Description. This document covers the plan’s provisions, including eligibility requirements. Complete this document before distributing it to eligible employees.
    • Plan Information: Provide the name of the company, address, employer identification number and employer contact
    • Eligibility Requirements: Complete if applicable. Refer to Section 3 of your plan’s Adoption Agreement if necessary.

  • Salary Deferral Election. Employees use this document to indicate whether they wish to start, maintain or change salary deferral elections. You do not need to complete this document before distributing it to eligible employees.

    Note: If your plan will offer Roth salary deferral contributions, you must also provide all eligible employees the Roth SIMPLE IRA Custodial Agreement and Disclosure Statement.

    We continue to enhance our website to make it easier for you to make contributions online. Visit the Online Group Investments (OGI) website to learn more.

    As a reminder, if you change the designated financial institution for your company’s SIMPLE IRA plan or if you terminate your plan, please contact us so we can update our records.

Get prepared

Make sure your plan contact information is up-to-date.

Related resources

SIMPLE IRAs
Learn about eligibility, contributions, pricing, taxes and testing, administration and investment options.

SIMPLE IRA forms and resources
Find the forms and resources necessary to open, update or transact on a SIMPLE IRA plan.

Online Group Investments website user guide
Help plan sponsors learn how to use the many time-saving tools available at the Online Group Investments website with this guide.

Amend a SIMPLE IRA plan
Learn how to amend an existing plan due to changes to the plan.

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