Guest Thornton Posted January 15, 2014 Posted January 15, 2014 A church wants its employees to set up personal IRAs and the church, not the employee, will contribute annually to the IRAs. Are employer contibutions to IRAs permitted? Wouldn't the contributions be income to the employee subject to withholding, etc? Thanks.
QDROphile Posted January 15, 2014 Posted January 15, 2014 Are you describing a SEP? Would a SEP and its rules be meaningful if what you describe could occur without following SEP rules?
masteff Posted January 15, 2014 Posted January 15, 2014 SEP IRA http://www.irs.gov/pub/irs-pdf/p560.pdf Minimal paperwork and accomplishes what is desired. Kurt Vonnegut: 'To be is to do'-Socrates 'To do is to be'-Jean-Paul Sartre 'Do be do be do'-Frank Sinatra
Guest Thornton Posted January 17, 2014 Posted January 17, 2014 A SEP occurred to me, but the church is picking and choosing employees who receive the IRA contribution. This would be discriminatory under a SEP.
Appleby Posted January 20, 2014 Posted January 20, 2014 Look into Payroll Deduction IRAs and Employer Sponsored IRAs Life and Death Planning for Retirement Benefits by Natalie B. Choatehttps://www.ataxplan.com/life-and-death-planning-for-retirement-benefits/ www.DeniseAppleby.com
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