Multiple SIMPLE IRA Plans
It is my understanding that the Maximum employee deferral into a SIMPLE IRA for an employee age 50 or over is $13,000 ($10,500 + $2,500 catch up contribution).
Is there a higher Maximim employee deferral if an employee/officer/>2% S Corp Shareholder is a participant in two SIMPLE IRA Plans maintained by brother/sister S Corps?
Submitted by Brent P Stewart on Thu, 2007-12-06 15:50