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SIMPLE IRA -Exclusive Benefit Plan Rule


Fisher
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My understanding of the exclusive benefit plan rule is that an employer can not maintain a SIMPLE if they maintain a quailfied paln in the same year for which contributions are made. I realize there are 2 exceptions: possiblity inion and non-union plans and in the event of an acquisition/merger.

Question I have is, does contributions to the qualified plan mean for ANY employee or, that contributions can not be made to both plans for ANY GIVEN eligible employee.

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