IRA contrib through payroll

Submitted by Wendy Mommaerts on Wed, 2023-01-25 17:39

We have a SIMPLE retirement plan where there is one employee who won’t be eligible to enroll in the SIMPLE retirement plan. This employee would like to still contribute through their paycheck to an IRA. Can this be done?



Submitted by William Tuttle on Thu, 2023-01-26 04:25

  • This is no different than any other after-tax direct deposit.
  • The employee has or opens an IRA account and provides routing and account numbers to the employer just like any other bank account.

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