Felicia
Oct 29 1999, 05:17 PM
May a municipality establish a SIMPLE IRA for its employees if it meets the other requirements, e.g. number of employees?
danmar
Oct 29 1999, 06:19 PM
Yes, a municipality can establish a SIMPLE IRA but not a SIMPLE 401(k).
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Gary Lesser
Nov 5 1999, 05:20 PM
It would appeal that the controlled/affilliated/related employer rules would not apply to separate government bodies (separately incorporated). This may be a good question to ask Carol Calhoun on the Gov't Plan Board if it becomes an issue for you.
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