Phone Number: 763-639-0868

Wednesday, November 21, 2018

SIMPLE IRA

If you're self-employed or own a small business, you may be able to establish a Savings Incentive Match Plan for Employees, SIMPLE IRA plan. A SIMPLE IRA plan is a salary reduction retirement plan for certain small businesses that is established in the form of employee-owned traditional IRA (but with a higher contribution level). To qualify, you can't maintain another employer-sponsored retirement plan and must have no more than 100 employees who were employed in the past year and who earned at least $5,000. The SIMPLE IRA plan is funded with voluntary employee contributions and mandatory matching or nonelective contributions by the employer. Establishing such a retirement plan can provide you with a tax-advantaged way to save funds for your retirement; it may also help you attract and retain qualified employees.

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Advisory Services offered through Investment Advisors, a division of ProEquities, Inc., a Registered Investment Advisor. Securities offered through ProEquities, Inc., a Registered Broker/Dealer, and member FINRA and SIPC.  Conneran Financial is Independent of ProEquities, Inc.

Please be advised that presently Thomas Conneran holds series 6, 7, 63 and 65 licenses in CA, CT, DC, MD, MN, MT, ND, TX, VA, and WI. For residents of other states in which registration is not held, proper licenses and registrations must be obtained by representatives before proceeding further. No part of this communication should be construed as an offer to sell any security or provide investment advice or recommendation. Securities offered through ProEquities, Inc. will fluctuate in value and are subject to investment risks including possible loss of principal.