What does SIMPLE Plans mean? Read on to discover the definition & meaning of the term SIMPLE Plans - to help you better understand the language used in insurance policies.
A SIMPLE plan is a retirement plan that is commonly offered by companies with no more than 100 employees. SIMPLE stands for Savings Incentive Match Plan for Employees of small employers. In the context of insurance, insurance companies often serve as trustees who manage SIMPLE plans on behalf of the employer.
We hope the you have a better understanding of the meaning of SIMPLE Plans.