Personal_Home Banking Borrowing Investing Retirement Managing Wealth Tools and Planning En Espanol  
Plan Participants Retirement Planning Rollover Solution Center Products & Services  
Simple IRA

SunTrust Investment Services offers the Savings Incentive Match Plan for Employers (SIMPLE) IRA – a cost-effective way for employers with fewer than 100 employees to maintain a retirement plan. It encourages employees to fund their own retirement accounts through salary deferral contributions. A limited level of employer contributions is also required.

Contribution Levels

Tax year 2010 employee salary deferrals can be made up to $11,500 (under age 50) or $14,000 (age 50 or older), or 100% of income, whichever is less. They are made throughout the calendar year with no minimum employee participation requirements.


Employer contributions can be made up to the employer's tax-filing deadline, including extensions. The employer has two options to choose from when making contributions. The first option is a dollar-for-dollar match on employee deferrals up to 3% of compensation (which can be lowered to as little as 1% for two out of any five years). The second option is a non-elective contribution of 2% of compensation (limited to $245,000) for each employee who has $5,000 in wages for the year, regardless of participation in salary deferrals.

For additional information:

Neither SunTrust, its officers, nor its employees give tax or legal advice. Please consult your tax or legal advisor concerning your specific situation.

Additional Information

Have questions? We're
available to help you.

> Call us at 800.526.1177

Related Link

> Retirement Planning

Business Banking |  Corporate & Institutional |  News Releases |  Investor Relations |  Careers  |  En Español
Home |  About SunTrust |  Contact Us |  Customer Service |  ATM/Branch Locator |  Site Map |  Online Fraud
Privacy, Security & Fraud  |  Terms & Conditions |  ©2014 SunTrust Banks, Inc. SunTrust is a federally registered service mark of SunTrust Banks, Inc. SunTrust Bank Equal Housing Lender
Securities and Insurance Products and Services:
Are Not FDIC or any other Government Agency Insured Are Not Bank Guaranteed May Lose Value
Services provided by the following affiliates of SunTrust Banks, Inc.: Banking and trust products (including checking accounts) and services are provided by SunTrust Bank, Member FDIC. Securities, insurance (including annuities and certain life insurance products) and other investment services (including Brokerage accounts) are offered by SunTrust Investment Services, Inc., an SEC registered investment adviser and broker-dealer and a member of the FINRA and SIPC. Other insurance products and services offered by SunTrust Insurance Services, Inc., a licensed insurance agency.