Roger389

Fascinating. That is why I came to you for help! Indeed I'm paid in arrears, once monthly as indicated. Takes a constant amount of budgeting and future planning... I'm not sure if its relevant that much of the payment is commission based from the prior month. My cursory review would indicate that I'm not in a state with very many specifics to this issue. I would think they've done their homework as well, but I've learned on this forum that many employers do not. So, I stand corrected. Indeed, looking back at last years deposits... Example: Work performed for all of August 2019. Paid September 2, 2019. Deferrals hit SIMPLE-IRA at end of October 2019. Thanks to all...not what I was hoping to hear, but makes sense. ?

Hi all, Thank you in advance for your input. Long time lurker, but 1st time poster. My question pertains to the language of the governing IRS rule, IRC section 408(p)(5)(A)(i) for SIMPLE IRA employee deferrals: The IRS FAQ states: I'm paid monthly, on the first business day of the subsequent month. For instance: January-->paid 2/3/20 for January February-->paid 3/2/20 for February March-->paid 4/1/20 for March My interpretation of the IRS regulation is that elective employee salary deferrals should be made as following: For work performed in January, no later than 30 days from 1/31 For work performed in February, no later than 30 days from 2/29 etc etc. However, my employer is interpreting this as "since I'm being paid in in February", the employer has 30 days from the end of February (i.e. end of March) to make what were my January salary deferrals. I strongly disagree and feel that this 60 day window is a clear violation of the law. What do you think in response to the IRS definition of "in which the amounts would otherwise have been payable to the employees in cash" Please let me know if I need to clarify.