Savings incentive match plan for employees

{
  "id": "MLC-T-ECS-001737",
  "term": "Savings incentive match plan for employees",
  "field": "Economic statistics",
  "definition": "Retirement plan limited to employers with fewer than 100 employees.\n\nNote: A SIMPLE can be either part of a 401(k) plan or established as an IRA. Employers must either make matching contributions of up to 3 percent of compensation or make a 2-percent nonelective contribution to all eligible employees. The employee is always 100 percent vested.",
  "abbreviation": "SIMPLE",
  "references": [
    "BLS Glossary"
  ],
  "url": "https://mlchart.com/terminology/economic-statistics/savings-incentive-match-plan-for-employees/"
}