This is a streamlined program for offering your employees a simple yet compelling retirement savings program. ADP has combined resources with Fidelity Investments ® to offer a SIMPLE IRA product specifically designed for ADP clients. The program allows you and each of your eligible employees to defer up to 100% of compensation, or up to $10,000 in 2006 (whichever is less) towards retirement. As the employer, you can match that contribution dollar-for-dollar up to $10,000 or 3% of your compensation, whichever is less. That’s a possible maximum savings of $20,000. The SIMPLE IRA allows participants to grow earnings tax-deferred until the money is distributed. In addition to the $10,000, participants over the age of 50 can also make catch-up contributions of $2,500. These catch up deferrals can also be matched by an additional employer contribution of $2,500. This plan includes: