ERC and SIMRP!
Two Different Programs. One Common Goal: Supporting Employers and Employees.
How ERC Helped Employers and Employees
Employees Benefited
- Employees remained employed during a period of extraordinary uncertainty.
- Families continued receiving paychecks.
- Workers maintained financial stability during a difficult time.
Employers Benefited
- Employers continued supporting their workforce during a challenging period.
- The government later rewarded those efforts through the Employee Retention Credit.
- Organizations received meaningful financial relief for retaining employees.
How SIMRP Helps Employers and Employees
Employees Benefited
- Increased take-home pay.
- Access to employer-sponsored health and wellness resources.
- Additional support for qualified medical and wellness expenses.
Employers Benefited
- Reduced payroll-related costs.
- Improved employee benefit value.
- Ongoing financial efficiencies.
- Enhanced workforce retention positioning.
What ERC and SIMRP Have in Common
- Both create value for employers.
- Both create value for employees.
- Both operate within federal tax frameworks.
- Both demonstrate how government-authorized programs can support employers and employees.
One-Time Benefit. Ongoing Opportunity
ERC
The Employee Retention Credit was designed to address a specific moment in time. SIMRP is designed to create ongoing value moving forward.
- ERC ended.
- Payroll taxes did not.
- Benefit costs did not.
- Workforce challenges did not.
One More Important Similarity
When employers received ERC funds, the government generally did not tell them how to spend the money. The employer decided.
SIMRP works much the same way. The savings belong to the company. The company decides what to do with them.
