Atlanta Periodontal Group SIMPLE IRA Plan

Welcome to your Simple IRA Plan website dedicated to helping you reach your retirement goals. While here, you will find a wealth of education on retirement investing and help with understanding plan features.

FUND SELECTION

Schwab Target Date Index Funds

  • Primarily passive investments
  • Low cost
  • Composed of index-based ETFs
  • No investment minimums
  • No transaction fees

Retirement DateSymbolDescriptionNet Expense Ratio (%)
2013-2017SWYBXSchwab Target 2015 Index Fund0.08
2018-2022SWYLXSchwab Target 2020 Index Fund0.08
2023-2027SWYDXSchwab Target 2025 Index Fund0.08
2028-2032SWYEXSchwab Target 2030 Index Fund0.08
2033-2037SWYFXSchwab Target 2035 Index Fund0.08
2038-2042SWYGXSchwab Target 2040 Index Fund0.08
2043-2047SWYHXSchwab Target 2045 Index Fund0.08
2048-2052SWYMXSchwab Target 2050 Index Fund0.08
2053-2057SWYJXSchwab Target 2055 Index Fund0.08
2058 or laterSWYNXSchwab Target 2060 Index Fund0.08
DISTRIBUTIONS

Procedures

SIMPLE IRA assets are fully vested and may be withdrawn at any time, subject to taxes and penalties as explained below. Charles Schwab is responsible for making distributions to you upon your request, not your employer. You may contact Charles Schwab directly at 1-800-435-4000 or email amanda@FPLCapital.com to request a distribution. Please allow time for processing.

Federal Income Tax

Distributions from SIMPLE IRAs are taxed as ordinary income in the year in which you receive them.

Early Distribution Penalty

A 25% early withdrawal penalty applies to SIMPLE IRA distributions taken within 2 years of your initial participation in the plan, unless you are over the age of 59 1/2 or qualify for an exemption. If you are under the age of 59 1/2, have satisfied the 2 year requirement and receive a distribution that does not qualify for an exemption, you will be subject to a 10% early distribution penalty.

SIMPLE IRA distribution rules are complex and subject to change. For more information, please visit https://www.irs.gov/retirement-plans/simple-ira-plan-faqs-distributions. 

FAQ

Who should I contact with questions about my plan?

Please contact Amanda Harrell at 504-229-5233 or via email at amanda@FPLCapital.com

Who is eligible to participate in your employer’s SIMPLE IRA plan?

All employees are eligible.

Where is your SIMPLE IRA held?

Your account will be held at Charles Schwab. You can access your account by visiting www.schwab.com.

What is the maximum you can contribute?

You can contribute up to $12,500 for 2018. If you are over the age of 50, you can contribute an additional $3,000 for 2018.

When will your contributions be deposited into your account?

Your contributions will be deposited within 30 days of being withheld from your paycheck.

Can you change your deferral (contribution) amount/percentage?

Yes. However, you are only allowed to change your deferral amount/percentage once a year. This can be done December 1-31 of each year.

What is your employer’s match?

Your employer will match your contributions dollar for dollar up to 3% of your compensation.

When will your employer’s contributions/match be deposited into your account?

Your employer’s contribution will be deposited into your account once a year. This will be done at the end of each year.

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