Scuba 401 Posted October 6, 2017 Report Share Posted October 6, 2017 Employer has a SIMPLE IRA and is being acquired. I know the rule is the employer must give notice to employees they plan to discontinue contributions by November 2. However for participants to roll over to any other IRA or plan they must have been in the SIMPLE for 2 years. Do you keep the SIMPLE plan open for 2 years even though the employer is going to sell its assets and presumably be dissolved so everyone can rollover to a non simple plan? Can you discontinue without terminating the plan? i understand the transition rules and i am guessing part of the reason is because of the 2 year rollover restriction. Link to comment Share on other sites More sharing options...
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