designated simple IRA versus non designature simple IRA
how does an employer make a decision to establish a designated simple IRA versus a non designated simple IRA. what are the determining factors for an employer?
how does an employer make a decision to establish a designated simple IRA versus a non designated simple IRA. what are the determining factors for an employer?
Permalink Submitted by Alan Spross on Tue, 2011-05-10 03:41
If referring to using a single designated IRA custodian for all the employee accounts vrs allowing employees to set up their own accounts, I think the number of employees would be the key. The more employees there is, the less efficiency from letting them select all kinds of different custodians. If only a very few employees who have good reasons for using their own custodians, the less likely that will be to cause operating problems getting the salary deferrals made properly etc.