Simple IRA

If a Simple IRA is already existing, can an employee set up an account and contribute for 2014? Or will they have to wait until 2015?



If the employee elected not to participate in the fall of 2013 for 2014 OR if the employee terminated their salary reduction arrangement earlier in 2014, they must wait until 2015 to resume contributions. The election period for 2015 runs from 11-2 till 12/31/2014.



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