Guest jerseygirl Posted January 12, 2011 Report Share Posted January 12, 2011 I have been with this office since 3/07. It has come to my attention last week that there is a SIMPLE IRA plan that some of the employees are in. It seeems it has been inplace for about 8 years. When I approached my employer about the plan he said yes for employees after 3 years of employment,I am there almost 4-I asked him for the information and he is supposed to get it for me next week. My questions : Is the 3 year for elegibility correct?-He said he decided the terms of the elegibility--I thought it was $5000in 2 previous calander years? Since I started in 3/07 and made over$5000 in 2007 and 2008 would I have been elegible 1/09 or 3/09 or 1/10?What date would I have been elegible and when should I have been notified? I also have a coworker who was hired a month before me who has not been informed of this. I understand that if he missed notification there would be some kind of "correction" by the employer into the plan.How does that get calculated and by whom? Does this get reported to anyone? ERISA,IRS,DOL? ESpecially since I am not the only one. Any input appreciated. Link to comment Share on other sites More sharing options...
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