Fisher Posted September 18, 2013 Posted September 18, 2013 If an employer is using the 5304 SIMPLE, can they require particpants to only have one investment selection at any given time for their ongoing contributions? I think they should be able to but still allow an employee to change investments but can not split contributions to go to 2 or more providers
ETA Consulting LLC Posted September 18, 2013 Posted September 18, 2013 They cannot. They can only designate one financial institution (provider) to receive the contributions. Good Luck! CPC, QPA, QKA, TGPC, ERPA
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