my company offers 401K, but they're shady and don't deposit the funds in the 401K acct for months and only do it when they're caught after multiple reminders and much pressure. also no match. tired of the cat and mouse game with them. would like to contribute nothing this year and instead do my own IRA.
if i read this right https://www.irs.gov/retirement-plans/are-you-covered-by-an-employers-retirement-plan , if i contribute nothing to my 401K all year, then i'm not considered covered and i can contribute to IRA as if my employer didn't have a 401K plan.
am i interpreting it right?
