brenns99
Nov 19 2002, 09:11 AM
Can a SEP allow participants to purchase life insurance with either seasoned monies and/or rollover assets?
mbozek
Nov 19 2002, 11:12 AM
SEP contributions are held in IRAs which are not permitted to invest in LI. Only Qual plans and 403(B) plan can invest in LI.
Gary Lesser
Nov 28 2002, 11:03 PM
The prhibition against life insurance in an IRA can be found in Code Section 408(a)(3).
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