thepensionmaven Posted September 24, 2020 Posted September 24, 2020 Broker came to me with a question. I have not been involved with the SIMPLE; years ago, we heard the expression "SIMPLE plans for simple minds." His client has a SIMPLE IRA with the 3% match. Apparently the owner has already contributed more than the max deferral. Can a SHM be set up to fund the difference for 2020 so the owner does not have to take any money back; or would the excess need be returned?
Bri Posted September 25, 2020 Posted September 25, 2020 What is a safe harbor match in the context of a SIMPLE?
Bird Posted September 28, 2020 Posted September 28, 2020 He might be able to treat some or all of the extra deposits as matching contributions. Otherwise, I'm with Bri - not sure I understand the Q. Ed Snyder
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