Guest szaidman Posted September 5, 2001 Posted September 5, 2001 An employer terminated their SIMPLE IRA in May, and they want to start a 401(k). Do they have to wait for January to start, or can they start now since the IRA is not open for new contributions anymore?
MJ Hartman Posted September 5, 2001 Posted September 5, 2001 unfortunately they must wait until Jan. 2002 to start a new plan; no other types of plan can be effective in a year in which a simple IRA exists (contributions paid )
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