Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [simple-ira]

Use this tag for questions about the SIMPLE IRA, an employer-sponsored retirement plan for small businesses. For questions about conventional IRAs, use the tag "ira" instead.

21 questions
11
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3 answers

Matching but no investing, or investing but no matching?

(This is a simplified version of an earlier question I posted - I want to try to get back to basics so I can understand the principles involved in my decision) Given the following two options: Employer matching 1% of gross pay in an IRA with heavy…
user3474
9
votes
1 answer

Options for a Simple IRA when leaving a job: Leave as is or roll it over?

I currently have a Roth IRA that I max out every year. My current company had Simple IRA and contributed 2% of my salary and I contributed 6000 a year. Now I am leaving the company and was hired by a new company with a 401K. I plan to continue…
Web
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8
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3 answers

If I have a Simple IRA can I also contribute to a Traditional IRA and/or Roth IRA?

I have a Traditional IRA and a Roth IRA. This year my company introduced a Simple IRA. As long the contributions to the Traditional+Roth are below the yearly limit, can I contribute to all three accounts?
brian
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6
votes
1 answer

Can I make a lump-sum contribution to a SIMPLE IRA?

My employer offers a SIMPLE IRA plan to which I can contribute 3% of my salary. My employer contributes a 3% match. The employee contribution limit of $12,500 is far higher than the 3% amount I will contribute by the end of the year. Do IRS rules…
thirtythreeforty
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6
votes
5 answers

Where do I invest my Roth IRA besides stock market and mutual funds?

I'm 25, I've invested most of my Roth IRA in the stock market, and have recently moved money to a peer to peer lending account for better compound interest returns. Where else should I consider investing Roth IRA money that I will not use for 20-30…
westonplatter
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4
votes
1 answer

Is Fidelity an IRS approved custodian?

My employer offers a Simple IRA match. The plan they've set up allows me to select the financial institution that will serve as trustee or custodian1. I see many references to Fidelity in my research for a trustee. However, I notice that neither…
Lorem Ipsum
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3
votes
2 answers

SIMPLE-IRA - Can multiple S-Corporations contribute to the same account?

I recently set up a SIMPLE-IRA account at an online brokerage. I have two S-Corps that pay out SIMPLE-IRAs to its employees. Can I distribute money from both S-Corps to the same SIMPLE-IRA account or do they have to be distributed to individual…
Lloyd Banks
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3
votes
0 answers

Can You Receive Both a Simple IRA and SEP IRA?

I am the employee of two companies. At one company, I receive a SEP IRA. I know that SEP IRAs are not included in the standard annual elective deferral limit. At the second company, I have the option to receive a Simple IRA. Can you receive…
Lloyd Banks
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2
votes
3 answers

Roth or Traditional IRA?

Here's the short and quick: I am 35, plan to work for 30 more years. Will most likely stay in 25% tax bracket, even after retirement. I can contribute around $460 per month currently into an IRA. My employer automatically puts 5% of my annual salary…
jeff
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2
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1 answer

Can funds from a SIMPLE IRA be rolled over to a new custodian while still keeping the original account?

I contribute to a SIMPLE IRA through my employer. However, I am currently unhappy with my investment choices there. Is it possible to roll over some of the funds from my SIMPLE IRA to another vendor, either into another SIMPLE IRA or a traditional…
Ben Miller
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2
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2 answers

Medical Bills and IRA Distributions

From my research I think we have unknowingly and accidentally screwed ourselves here, but I would like to ask to confirm. Oct 2015: Our son needed emergency surgery when we were traveling in Panama and was in the hospital for a week. We had to pay…
swimex
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2
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1 answer

How can I make a SIMPLE IRA employee contribution for 2014 in March 2015?

I work at a startup of two people. We have a SIMPLE-IRA retirement plan where we each contribute a fixed amount of money per paycheck to said account. Additionally the company matches dollar for dollar up to 3 percent. The employee contribution in…
Doov
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2
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1 answer

What happens if I contribute to a SIMPLE IRA after I've already filed US taxes for that year?

I've already submitted my US tax return and received my refund for the 2019 tax year. However I just learned that the IRA contribution deadline was pushed back along with the tax deadline. Due to some confusion, I didn't make any SIMPLE IRA…
David Gay
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1
vote
1 answer

What are my options for leaving a job with a Simple IRA within the 2-year period?

I have a Simple IRA through my employer that currently has ~$3,000 in it. While this account was opened over two years ago, my understanding is that the 2-year period for SIMPLEs starts with the first contribution, which was only one year ago. I am…
justastringofcharacters
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1
vote
1 answer

Defined Contribution Plan - Are IRA Contributions Included in the Yearly Elective Deferral Limits?

I am under the assumption that the elective deferral limit for defined contribution plans (including Simple IRAs and 401ks) is $18,000. IRAs have a separate $5,500 limit. Does the $18,000 limit include IRAs or is the IRA contribution limit in…
Lloyd Banks
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