2027 SIMPLE IRA Plus annual enrollment resources and disclosures

As a plan sponsor, your responsibilities include:

• Preparing and distributing the disclosure documents to your eligible employees prior to November 2, 2026.
  
  
• Conducting the 2027 plan year enrollment from November 2, 2026, through December 31, 2026.

   
Note: Eligible employees include existing participants (i.e. those currently participating) and those who are newly eligible to participate.

STEP 1: Complete and distribute the appropriate disclosure package before November 2, 2026

NEW — Different disclosure packages are provided for existing participants and newly eligible employees. Review both sections below to determine which package applies.

 EXISTING PARTICIPANTS:

 Complete and distribute the 2027 SIMPLE IRA Plus Employee disclosures (for existing participants). This disclosure package includes:

• Fee and Fund Disclosure — This document contains information specific to your plan, including fees, available investment options and default investment information. If the information has not changed, you may use the most recent prefilled version provided by Capital Bank and Trust Company (CB&T). Otherwise, complete the information within the sample before distributing it. To make any adjustments to your plan, complete and submit the SIMPLE IRA Plus Change of Funds or Share Class form and/or the SIMPLE IRA Plus Financial Professional or Fee Change Request form. 


• Notification to Eligible Employees* — This document informs employees of their eligibility to participate in the plan, specifies the salary deferral contribution type(s) (pretax only or pretax and Roth) and limits allowed by the plan, and announces the type of employer contribution you will make for the next plan year. Complete this document before distributing it to eligible employees. 
  

Note: Higher salary deferral limits apply to smaller employers (those with no more than 25 employees who earned at least $5,000 in the prior year). Larger employers (those with more than 25 employees who earned at least $5,000 in the prior year) may voluntarily allow higher salary deferral limits but only if increased employer contributions are made. If you are a larger employer interested in offering higher limits, use this modified version of the SIMPLE IRA Plus Notification to Eligible Employees (4% matching or 3% nonelective employer contributions).

• Summary Description — This document covers the plan’s provisions, including eligibility requirements. Complete this document before distributing it to eligible employees.
  • Plan Information: Provide the name of the company, address, employer identification number and employer contact.
  • Eligibility Requirements: Complete if applicable. Refer to Section 3 of your plan’s Adoption Agreement if necessary.

Note: The Fee and Fund Disclosure, Notification to Eligible Employees and Summary Description are the same documents described in the previous section and must be completed  before distribution, as applicable. The remaining documents are provided for distribution and do not require sponsor completion.

Additional information you may need:

Adding Roth salary deferral contributions

For plans that do not currently offer Roth salary deferral contributions: If you want to add this option for the 2027 plan year, you must amend your plan and notify employees by November 2, 2026.

We recommend consulting your financial professional to determine whether this option is right for your plan. Refer to Amend a SIMPLE IRA Plus plan for more information.

Note: Employees will still have the ability to make pretax salary deferral contributions.

This sample Automatic Contribution Arrangement Notice can assist you in preparing the notification.  Complete this document before distributing it to eligible employees.