ADP Retirement Services Group Extends Offerings to Small Business Clients with SIMPLE IRA.Business Editors ROSELAND, N.J.--(BUSINESS WIRE)--March 20, 2000 SIMPLE IRA Simple IRA A salary deduction plan for retirement benefits provided by some small companies with no more than 100 employees. Expands the Choices of Small and Emerging Businesses, Providing a Streamlined, Flexible DC Plan and Seamless Payroll Integration The Retirement Services group of Automatic Data Processing Same as data processing. , Inc. (ADP (1) (Automatic Data Processing) Synonymous with data processing (DP), electronic data processing (EDP) and information processing. (2) (Automatic Data Processing, Inc., Roseland, NJ, www.adp. (R)) Employer Services division today announced the debut of the SIMPLE IRA Business Retirement Plan, a new salary deferral retirement product tailored to the needs of small and emerging businesses that provides valuable tax incentives to both employees and employers. Part of ADP's ever-expanding range of solutions, the SIMPLE IRA provides a one-stop, flexible solution for businesses that want to offer their employees the highest quality choices for retirement planning Retirement financial planning refers to a collection of systems, methods, and processes which, in their aggregate, support a family unit's (client's) desire to achieve a state of financial independence, such that the need to be gainfully employed is optional. with minimal administrative requirements and maximum tax savings opportunities. This new retirement solution is available to small businesses with 100 or fewer employees and has proven especially popular among early users with under 25 employees. ADP's SIMPLE IRA allows small business owners to provide retirement benefits to their valued employees through a seamless, top-quality plan that draws on the investment expertise of the country's largest money manager, Fidelity Investments Fidelity Investments is a group of privately held companies in the financial services industry. It is made up by two independent but closely cooperating companies, Fidelity Management and Research Corporation (FMR Co. . ADP's SIMPLE IRA removes the burden of setting up and administering retirement plans from small business owners so they can concentrate on more business-critical activities. This new plan is integrated with ADP's payroll services, so there is no need for small business owners to contact the fund manager to submit payroll data via telephone or fax. Through the program, both employees and employers may invest up to $6,000 a year in a tax deferred account and business owners may deduct matching contributions and receive additional tax savings. "In today's tight labor market labor market A place where labor is exchanged for wages; an LM is defined by geography, education and technical expertise, occupation, licensure or certification requirements, and job experience , small business owners are constantly trying to leverage ways to attract and retain the highest quality employees. ADP's SIMPLE IRA helps them do so by enabling small businesses to provide employees with a manageable and cost-effective retirement plan," said Mark Phillips This article is about the former husband of Princess Anne, The Princess Royal. For other people named Mark Phillips, see Mark Phillips (disambiguation). Captain Mark Anthony Peter Phillips , senior vice president and general manager, ADP Retirement Services. "Small business owners don't have to worry about the government reporting and other administrative burdens typically associated with small business retirement plans - we take care of that for them." ABOUT ADP RETIREMENT SERVICES ADP Retirement Services, which works with over 8,000 plans ranging in size from one participant to tens of thousands, is dedicated to providing comprehensive retirement plan services to clients of all sizes and in all industries. ADP Retirement Services simplifies the administrative process for the corporate payroll professional or business owner by linking retirement services to company payrolls - eliminating paperwork and lowering costs. ADP Retirement Services is part of the Employer Services division - the leading provider of comprehensive payroll, human resources and benefits administration outsourcing services to companies of all sizes. For more information on ADP Retirement Services, or to contact a local ADP Retirement Services sales office, reach us at 1-800-974-6753 (x113) or visit our Web site at www.adp401k.com. ABOUT ADP Automatic Data Processing, Inc. (NYSE NYSE See: New York Stock Exchange :AUD AUD In currencies, this is the abbreviation for the Australian Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) is one of the largest global providers of computerized transaction processing, data communications and information services See Information Systems. , with more than $5 billion in revenues and more than 450,000 clients worldwide. ADP's Employer Services (ES) division is a leading provider of integrated business administrative solutions that help clients efficiently manage their internal processes, allowing them to focus on core competencies. ADP ES' offerings include both traditional and Internet-based outsourcing products and services, giving clients the ability to select from ADP's comprehensive range of World Class Service solutions. Services include: payroll, tax regulatory management, HRIS HRIS Human Resource Information System HRIS High-Resolution Imaging Spectrometer HRIS Highway Research Information Service HRIS High Resolution Infrared Sounder , benefits administration, time and labor management, retirement plan services, online recruiting, and pre-employment screening. For more information about ADP Employer Services, or to contact a local ADP sales office, reach us at 1-800-225-5237, ext. 124, or visit the company's Web site at www.adp.com. |
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