Guest szaidman Posted September 13, 2001 Share Posted September 13, 2001 A person who contributed to an employer Simple IRA but did not contribute the maximum before the employer terminated the plan, can he contribute to a traditional IRA to make up for that? If yes, how much can he contribute to the traditional IRA? Link to comment Share on other sites More sharing options...
Belgarath Posted September 13, 2001 Share Posted September 13, 2001 It's the same answer whether the SIMPLE terminated or not, as long as any money was contributed. As an "active participant" in the SIMPLE plan for, I'm presuming, 2001, his regular IRA deduction is governed by the income limitations. (Joint, if married) He could, of course, make a non-deductible contribution to the regular IRA. But in general, assuming he qualifies, he'd be better off with a ROTH IRA rather than a traditional non-deductible. Link to comment Share on other sites More sharing options...
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