Question

SIMPLE plans are available to groups of how many employees?

a. 25 or fewer employees
b. 50 or fewer employees
c. 100 or fewer employees
d. 200 or fewer employees

Answer 1

c. 100 or fewer employees

SIMPLE plans are available to employers with 100 or fewer employees, allowing small businesses the opportunity to provide retirement benefits.

Step-by-step explanation:

SIMPLE plans, which are tax-deferred retirement accounts provided for small businesses, are available to employers with 100 or fewer employees who earn at least $5,000 in the preceding year. This allows small businesses, which make up a significant part of the U.S. economy, to offer retirement benefits similar to those provided by larger firms. The majority of American firms are indeed small businesses that operate across various industries from dentistry to landscaping, and such firms are integral to the economic structure of the country.