You Asked Us - Establishing and Maintaining a SIMPLE IRA or a SEP IRA

• Q.What definition of compensation should we use when making either the 3% employer matching contribution or the 2% nonelective contribution to our SIMPLE IRA plan?

• Q. When can an employer terminate a SIMPLE IRA plan?

• Q. I am 71 and participate in my company’s SIMPLE IRA plan. I will begin receiving required minimum distributions this year, but would like to continue to contribute to the SIMPLE IRA plan since I am still working. Is this permitted?

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