Matching on a Roth Account
A non profit wants to set up a Simple IRA for the Director. The Director would like to have a Roth account and getting matching dollars instead of a Simple IRA. Is there a way a non-profit can put matching money into a Roth Account?
Permalink Submitted by Alan - IRA critic on Mon, 2015-02-16 17:00
There are no Roth options available with a SIMPLE IRA. The non profit would have to offer a 401k or 403b plan with a designated Roth option instead of a SIMPLE IRA to gain access to Roth contributions. Even with those plans, matching contributions must be made to the pre tax account, not the Roth portion.
Permalink Submitted by Alan - IRA critic on Mon, 2015-02-16 17:01
There are no Roth options available with a SIMPLE IRA. The non profit would have to offer a 401k or 403b plan with a designated Roth option instead of a SIMPLE IRA to gain access to Roth contributions. Even with those plans, matching contributions must be made to the pre tax account, not the Roth portion.