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SIMPLE plan and 401(k) in same year

Guest jetfaninmn

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Guest jetfaninmn

I know I saw an answer to this but I can't find it on my search. If a company has a SIMPLE in place in 2005 and implements a Safe Harbor 401(k) Plan in 2005, the only downside is the employer loses the deductability of his match to the SIMPLE plan. Is this correct?

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