Guest lmcgill Posted March 1, 2001 Report Share Posted March 1, 2001 Can an employer terminate a 401(k) plan and start a sep ira in the same year or do they have to wait for 24 months to start a new plan? Link to comment Share on other sites More sharing options...
Bill Berke Posted March 8, 2001 Report Share Posted March 8, 2001 YES, you can switch. Eligibility is an option, you do not have to have a 24 month period, you could have anything less. The issue is that the total contributions to both plans are added together for 404, 415 and 416 purposes. Link to comment Share on other sites More sharing options...
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