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Terminating SIMPLE IRA and Waiver of 2 Year Penalty
The Retirement Advantage 
[Guidance Overview] Apr. 24, 2026 "SECURE Act 2.0 modified [the] rule for an employer that replaces its SIMPLE IRA plan mid-year with a safe harbor 401(k). In that specific scenario, the SIMPLE IRA owner can roll over the account to the newly established safe harbor 401(k) without triggering the early distribution penalty, regardless of the two-year waiting period. Distribution restrictions in the new plan apply to the rollover, however." MORE >> |
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