Larry Kraft owns a restaurant that is open 7 days a week. He has 25 full-time employees, but he has.

Larry Kraft owns a restaurant that is open 7 days a week. He has 25 full-time employees, but he has fairly high employee turnover. He believes that he can stabilize his workforce if he has a pension plan for his employees. Larry hears about a new small business retirement plan called the SIMPLE IRA. What are the qualifications and limitations for him to establish this plan?