Wayne has taken a job with a start-up company with seven employees. The company provides no benefits. Wayne previously worked as an independent contractor and was funding his SEP to the max every year. He would like to continue saving aggressively. Could we legitimately set up a SIMPLE for the company and have Wayne work out an agreement with the employer to reduce his salary by the amount of the company’s non-discretionary contribution? Wayne could then fund his SIMPLE and the company could cover its contribution with no additional cost to the employer. If there’s no problem doing this, any other employee who might want to contribute could work out the same agreement.