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Terminationg SIMPLE IRA - New 401(k) Plan


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the employer will provide notification to the participants that the SIMPLE IRA will cease effective January 1.

Effective January 1, they will implement a 401(k) Plan. Many of the SIMPLE IRA participants have more than 2 years participation and will roll their funds to the 401(k) Plan.

If a participant only has 1 year as of 12/31/2014 could he roll this SIMPLE IRA to the 401(k) after 12/31/2015 - that would be two years in the SIMPLE PLAN? Or since the plan is terminated, participants with less than 2 years will NEVER be able to roll to the 401(k)??

Thank You

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  • david rigby changed the title to Terminationg SIMPLE IRA - New 401(k) Plan

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