Bob Demontigny Posted March 13 Posted March 13 Secure 2.0 allows mid-year Simple to 401k but is that a two way street? Section 332, Employers allowed to replace SIMPLE retirement accounts with safe harbor 401(k) plans during a year. Section 332 allows an employer to replace a SIMPLE IRA plan with a SIMPLE 401(k) plan or other 401(k) plan that requires mandatory employer contributions during a plan year, and is effective for plan years beginning after December 31, 2023. Can I terminate a SH 401k and replace with a Simple in the same year?
CuseFan Posted March 14 Posted March 14 Agreed, and believe it's a one-way street. (And don't say but you're only going one way!) Luke Bailey 1 Kenneth M. Prell, CEBS, ERPA Vice President, BPAS Actuarial & Pension Services kprell@bpas.com
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now