Guest mivcevich Posted January 26, 2005 Posted January 26, 2005 A company is downsizing and would like to go from a 401K plan to a simple-IRA plan. They stopped contributing to the K plan in 2004 and submitted paperwork to terminate the plan in December of 2004. Can they immediately start a simple-IRA plan in 2005 and not violate the exclusive plan rule?
Gary Lesser Posted January 29, 2005 Posted January 29, 2005 Yes they can. And the SIMPLE-IRA would not be treated as a successor plan (under the 401(k) rules).
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