70 1/2 Participant Follow Up Question

[Jilliandiz]

Can a 70 1/2 year old participant contribute to Simple IRA Plans, Roth IRA's, Regular IRA's, SImple 401(k) plans, etc?

Thanks

[jevd]

Traditional IRAs- NO

Simple IRAs - Yes but must also take RMDs (This must be the only plan of the employer)

Roth IRAs - Yes

Simple 401(k)- Yes.

A 701/2 participant may participate in most if not all qualified plans. ( I'm no expert on DBs.)

As in all Qualified plans, the requirement for RMDs depends on the status of the participant. 5% Owner( by definition) or not.