SIMPLEs

A SIMPLE IRA (Savings Incentive Match PLan for Employees) gets both the employer and the employee involved in contributing to a retirement account. While employees are 100% vested from inception, there are steeper penalties for withdrawing money from the account within the first two years of participating.

  • SIMPLE IRAs are relatively easy to set up and run
  • Contributions are tax-deductible for employers
  • Employee contributions are pre-tax
  • Earnings grow tax deferred
  • Employers can choose a matching feature or a percentage of wages
  • Matching employer contributions belong to the employee immediately and can go with them if they leave

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Security Notice – Browser Updates May Be Required To Use Online Banking Solutions

As an ongoing security and protection for your finances, First United deploys and keeps up-to-date many layers of security and encryption protocols to protect your confidential information. Many modern internet browsers support these advanced encryption techniques, however, some older browsers do not. Please note that, beginning May 21st, customers using the unsupported Microsoft Windows XP® and Windows Vista® with Internet Explorer (IE) 6 or 8, will be unable to use our digital solutions and must upgrade to a newer supported version of Internet Explorer, Google Chrome™, or Mozilla Firefox® instead.

Additionally, some end customers using Internet Explorer 10 (IE10) or lower may receive a message from their browser about updating their browser security settings to TLS 1.1 or 1.2. These end customers should enable these protocols on the Advanced tab in IE via Tools > Internet Options to continue accessing digital finance solutions or upgrade to a newer supported version of Internet Explorer.

If you have questions, please contact our Customer Care Center at 1-888-692-2654.

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