Help - Search - Members - Calendar
Full Version: Simple IRA deferrals
BenefitsLink Message Boards > Retirement Plans > SEP, SARSEP and SIMPLE Plans
lgolden
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
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
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
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).
This is a "lo-fi" version of our main content. To view the full version with more information, formatting and images, please click here.
Invision Power Board © 2001-2012 Invision Power Services, Inc.