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BenefitsLink Message Boards > Retirement Plans > 401(k) Plans

Ted Kowalchuk, CFP, CFS,

Feb 24 2006, 01:45 PM

A prospective client wants to discontinue their SIMPLE IRA plan on March 31, 2006 and establish a 401(k) Plan on April 1, 2006. Is this permitted for April 1 or must they wait until January 1, 2007?

Also, can SIMPLE IRA money be transferred into a 401(k) Plan?

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