Guest Ernie Guerriero Posted May 31, 2001 Posted May 31, 2001 A small LLC has three employees, Mom age 70, Daughter age 38 and Son-In-Law age 38. Can the Mom waive out of the SIMPLE-IRA?
Guest Deena Posted June 4, 2001 Posted June 4, 2001 If they have a SIMPLE IRA with a MATCH and not the non-elective then Mom just chooses not to salary defer and then there is no match to her so in essence she has opted out. If there were the 2% non-elective contribution by the employer then she would be included.
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