SIMPLE Plan – Small Employer – Plan Origination Date
Client’s payroll company not allowing increase of 10% because their interpretation is the plan must have originated in 2023 or before.
How best to combat that?
Client’s payroll company not allowing increase of 10% because their interpretation is the plan must have originated in 2023 or before.
How best to combat that?
Permalink Submitted by Barry Dreayer on Tue, 2024-12-17 16:57
Payroll company indicated that not one person across the country asked to increase their SIMPLE IRA deferral by 10% except my client per my instructions. The only reason I knew was reading the June (I believe) monthly email from Ed Slott. He is the GOAT. Plus not one single financial advisor or CPA that I “quizzed” knew about the 10% increase for 2024. By the way, my employer has a SIMPLE IRA plan so I did increase mine by 10% back in June. Thank you. Thank you. I always sing your praises, Ed Slott and Company.