Guest CCDB Posted January 20, 2000 Report Share Posted January 20, 2000 Our company has elected to have an employee leasing firm take over the current staff of our company as of Jan. 1. Prior to that, our company had a SIMPLE IRA implemented in Aug. 1998. The leasing firm currently does not offer any retirement plan (but is looking into a 401K). Consequently, our company had to discontinue employee or employer contributions to the SIMPLE IRA (for the 2000 tax year) when the leasing firm took over. What options do we have with our current account balances (other than keeping it in the current plan or mutual funds)? Where can we transfer the money to with the least penalty from the IRS? Can they be transferred to traditional or Roth IRA's? What are the implications on transferring before and after the 2 year holding period I've heard about? Carl Link to comment Share on other sites More sharing options...
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!Register a new account
Already have an account? Sign in here.Sign In Now