If a business offers an exisitng SIMPLE IRA plan can it have a 1 year waiting period to be eligible for the exisitng plan, for a new hire? or if the plan exist’s is everyone eligible based upon the limited eligibility requirements selected on the 5304 or 5305 form section 1.:b (1), (2) such as:
– current comp expected 5k and prior year comp $0 and in 0 prior years.

Thanks CJB