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  • Low set-up costs compared to other plans
  • Easy management; less paperwork
  • Employer contributions are a deductible business expense
  • Employer sets employee eligibility based on business needs
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Who Contributes2

Employer Contributions: Match employee salary deferrals dollar for dollar up to 3% of the employee's compensation or a flat 2%2 of each eligible employee's compensation

Employee Contributions: Payroll deductions up to $14,000* and always 100% vested

Employees age 50+: Additional catch-up contributions up to $3,000*

* Limits listed are for 2022. The IRS sets limits annually.


Plan Details

Deadline to Establish: October 1 of the year the plan becomes effective

Eligible Employers

  • Employers of any business type with no more than 100 employees that earned $5,000 or more in the previous calendar year
  • Employer may not maintain another plan in the same year as the SIMPLE

Participant Custodial Fees: Waived if investments total $10,000 or more; $15 annual custodial fee per fund if less than $10,000

Employer Responsibilities3

  • Distribute Model Notification to Eligible Employees annually
  • Distribute Summary Plan Description to eligible employees annually

Print this poster  to promote the SIMPLE plan to your employees.

Compare Plans and BenefitsGet the Workplace Guide

Support & Guidance

  • Wide range of no-load mutual funds available
  • One-on-one guidance, plus education and tools to help you and your employees plan for retirement
  • Easy online access to track investments and make changes
  • Secure Plan Sponsor Access website for convenient management

Additional Resources

Establish Plan Now - Employer Checklist

Complete the steps below to establish your plan. Call 1-800-345-3533 if you have questions or need help.

Step 1: Review and complete a 5305-SIMPLE Form . Retain the original for your records and return a copy to us.

By Fax: 1-888-327-1997

By Mail:
American Century Investments
PO Box 419385
Kansas City, MO 64141-6385

Step 2: Notify eligible employees about the plan and distribute the completed 5305-SIMPLE Form  to all eligible employees. The form includes a Model Notification to Eligible Employees which lets employees know about the plan and how much you plan to contribute.

Step 3: Direct employees to the online SIMPLE Application to open an account.

Step 4: Have employees complete a Salary Reduction Agreement . You will keep this document for your records. Do not return to us.

Step 5: Review purchase guidelines and submit contributions.

Complete the Purchase Guidelines  form and submit contributions.


Sign up for Plan Sponsor Access  to submit contributions electronically through our secure website. Contact us at 1-800-345-3533 to get a user name and password.

Have Questions or Need Help?

Call us to speak to a Business & Retirement Specialist.


1 For purposes of determining the 100 employee limitation, all employees employed at any time during the calendar year are taken into account, regardless of whether they are eligible to participate.
2 Contributions may only be based on the first $305,000 of compensation, as adjusted.
3 Additional employer responsibilities apply.

IRS Circular 230 Disclosure: American Century Companies, Inc. and its affiliates do not provide tax advice. Accordingly, any discussion of U.S. tax matters contained herein (including any attachments) is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone unaffiliated with American Century Companies, Inc. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties.

This information is for educational purposes only and is not intended as tax advice. Please consult your tax advisor for more detailed information or for advice regarding your individual situation.

This information is for educational purposes only and is not intended as a personalized recommendation or fiduciary advice. There are different options available for your retirement plan investments. You should consider all options before making a decision. Our representatives can help you evaluate all of your distribution options.

Diversification does not assure a profit nor does it protect against loss of principal.