When was simple plan created

The relationship Simple Plan has with their fans runs much deeper than most. People get our lyrics tattooed, and write us these long letters about how our music has helped them with depression and to get through tough times in their lives. The single This Song Saved My Life was written as a result of this fan feedback, a way of thanking their legion of adorers for their dedication to the band.

The past two years have seen the band step in a new direction, allowing their fifth studio release Taking One For The Team to pay homage to unexpected reference points. This is an IRA-based plan that: allows employees to contribute part of their salary, and requires employers to contribute for eligible employees.

Contributions by employees and employers Employees can make elective salary deferrals to the plan rather than receiving these amounts as part of regular pay.

Provide employees with a salary deferral agreement. Page Last Reviewed or Updated: Nov Checklists and tips are available to help with periodic reviews of your plan. If you decide your SIMPLE IRA plan no longer suits your business, consult with your financial institution to determine if another type of retirement plan might be a better match.

The earliest effective date for the termination is January 1, No, you cannot end your plan in the middle of the calendar year. More In Retirement Plans. Example 1: Elizabeth works for the Rockland Quarry Company, a small business with 50 employees. Example 2: Austin works for the Skidmore Tire Company, a small business with 75 employees. Pros and Cons : Easy and inexpensive to set up and operate Employees share responsibility for their retirement No discrimination testing required Inflexible contributions Lower contribution limits than some other retirement plans Who Contributes: Employer must contribute and employee may contribute.

Filing Requirements: An employer generally has no filing requirements. Participant Loans: Not permitted. The assets may not be used as collateral. Annual Notice to Eligible Employees You must notify each employee before the beginning of the election period of: The employee's opportunity to make or change a salary reduction choice under the SIMPLE IRA plan; The employees' ability to select a financial institution that will serve as trustee of the employees' SIMPLE IRA, if applicable; Your decision to make either matching contributions or nonelective contributions; A summary description the financial institution should provide this information ; and Written notice that the employee can transfer his or her balance without cost or penalty if you are using a designated financial institution.

An employer can exclude the following employees from a SIMPLE IRA plan: Employees covered by a union agreement and whose retirement benefits were bargained for in good faith by the employees' union and the employer Nonresident alien employees who do not have U.

What are the contribution rules? The employer must annually choose one of the contribution methods below. Where are contributions deposited? When must contributions be deposited? Employee salary reduction contributions - within 30 days after the end of the month in which the amounts would otherwise have been payable to the employee including self-employed individuals in cash Employer matching or nonelective contributions - by the due date including extensions for filing your federal income tax return for the year If you haven't deposited contributions by their due date, find out how you can correct this mistake.

What information do I need to give to my employees? Before the beginning of each annual election period, you must notify each employee of: The employee's opportunity to make or change a salary reduction choice under the SIMPLE IRA plan; The employees' ability to select a financial institution that will serve as trustee of the employees' SIMPLE IRA, if applicable; Your decision to make either matching contributions or nonelective contributions; A summary description the financial institution should provide this information ; and Written notice that the employee can transfer his or her balance without cost or penalty if you are using a designated financial institution.

What are the basic withdrawal rules? Participant loans Loans are not permitted. What are the filing and notice requirements? Partnerships deduct contributions for employees on Form, U.