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To be eligible for ongoing SIMPLE IRA salary deferrals or employer contributions, however, a fund must waive the investment minimums for SIMPLE IRA customers. See a list of eligible funds, including no-load and no-transaction-fee funds from Fidelity and other well-known fund companies.
How much must I contribute for my employees participating in our SIMPLE IRA plan? You're generally required to either: match each employee's salary reduction contribution on a dollar-for-dollar basis up to 3% of the employee's compensation (not limited by the annual compensation limit), or