lgolden
Oct 21 2003, 02:23 PM
I'm having an unusually hard time confirming this but do SIMPLE IRA salary deferrals count towards the 402(g) limit? Does it matter SIMPLA IRA vs 401(k)/
Thanks for the guidance.
Appleby
Oct 21 2003, 02:27 PM
Yes it does.
If you make salary deferrals to both plans, you are limited to $12,000 ( for 2003) + catch-up IRC § 402(g)(1) EGTRRA 2001 § 611(d)(1))...
lgolden
Mar 15 2004, 04:35 PM
Hi,
Thanks for confirming what I thought. Do you know, did EGTRRA change this or have SIMPLE IRA contributions always counted towards 402(g)?
P.S. I will bring up EGTRRA and research myself, but I am just trying to save some valuable time.
Thanks!!
Appleby
Mar 15 2004, 05:40 PM
No Explanations necessary- Most of us use this board just to save time.
This was not changed by EGTRRA. The SIMPLE deferral was always part of 402(g) since it’s inception (1997).
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