SIMPLE IRA Key Features
Thank you for establishing an ADP SIMPLE IRA for your company. Following is a summary of your SIMPLE IRA’s key features.
Payroll Summary Report
Plan Maintenance Fee
• You will see the contribution
• The ADP SIMPLE IRA Plan
amount listed on the Payroll
Summary Report and paystub
as “ADP Simple IRA.” The
company match is listed as
“ADP RS SIMPLE COELECT.”
• We debit both the SIMIRA and
COELCT together. You will see this
amount under Cash Requirements
on the report.
• The debit will take place on check
date listed in the report.
Company Match
• Matching contributions are
calculated on year-to-date
compensation, less any Section 125
deferrals.
• Even if your plan or employee
deductions begin after January
1, the company match is still
calculated on earnings back to
January 1.
• Please notify ADP’s Simple IRA
department if you add a Section
125 plan during the year.
• Please note that your participants
Maintenance Fee will be billed
monthly at $33.33.
• You will receive an advice of debit
approximately one week prior to
ADP debiting this amount from
your company’s bank account.
can register on line at
www.americancentury.com to
view their American Century
Investments SIMPLE IRA account,
as well as view funds available
in the plan. To access this
information, please refer to the
most recent account statement.
• To make fund allocation changes
New Enrollees
• When you have additional
employees who wish to enroll,
please have them visit www.
americancentury.com/adpsimple.
Educational information, fund
information and online enrollment
is all available from this website.
• Once the completed application
is received, you will receive a
confirmation email or phone
call. Please do not set up any
deductions with ADP payroll until
a SIMPLE IRA Representative
contacts you to confirm that
application has been received and
is in good order.
• When the SRA page is included
or exchanges, participants may
call American Century Investments
direct at 1‑877‑288-5969 or go
online.
Statements
• You will receive a quarterly
Participant statement from
American Century Investments, as
will your employees.
• Participants can register at
www.americancentury.com to
access their account online. They
can also call American Century
Investments directly at 1-877-2885969, if they have any questions
about their account.
with a new application, ADP
SIMPLE IRA will set up the
payroll deduction for you once
the employee account has been
established.
For Additional Information
If you have any questions regarding your ADP SIMPLE IRA plan, please contact our
Client Service team at 800-664-5446, option 3.
ADP, LLC and its affiliates do not offer investment, tax or legal advice or management services, or serve in a fiduciary capacity with respect to retirement plans. Nothing in these materials
is intended to be, nor should be construed as, advice or a recommendation for a particular situation or plan. Please consult with your own tax advisors for such advice.
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