Simple IRA wanting to rollover and convert
I have a client who has a Simple IRA with about 17k in it and want to convert part of it this year to a Roth and the other part next year to a roth. His employer gives him a match of 3% to his Simple IRA can his Employer give him a match to his Roth? or does it have to go to a pre-tax account?
Thanks
Permalink Submitted by Alan - IRA critic on Fri, 2016-01-29 17:27
First, he cannot convert until he has satisfied the SIMPLE IRA 2 year waiting period. The employer match is made to the SIMPLE IRA account, so if he wants to convert that also, he would have to wait until it was contributed to the SIMPLE IRA.