Guest lmcgill Posted March 1, 2001 Posted March 1, 2001 Can an employer terminate a 401(k) plan and start a sep ira in the same year or do they have to wait for 24 months to start a new plan?
Bill Berke Posted March 8, 2001 Posted March 8, 2001 YES, you can switch. Eligibility is an option, you do not have to have a 24 month period, you could have anything less. The issue is that the total contributions to both plans are added together for 404, 415 and 416 purposes.
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