Author Topic: Continuing Simple IRA Contributions after leaving job?  (Read 1638 times)

lithy

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Continuing Simple IRA Contributions after leaving job?
« on: July 09, 2016, 06:42:55 AM »
So I'm going to be leaving my current position that offers a Simple IRA plan here in a week for a startup that will not have a retirement plan at least for the current calendar year.

Because I am a plan participant for 2016 in my current plan, is it possible to continue to make contributions up to the $12.5k limit with earnings from the new job?  Minus the employer match obviously.

I plan on calling the plan administrator next week, but just thought it would be helpful to go in with a bit of information on what might be possible.

Cheers!

Field123

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Re: Continuing Simple IRA Contributions after leaving job?
« Reply #1 on: July 09, 2016, 07:40:40 AM »
I don't think so. I believe that all Simple IRA contributions must come directly from the employer, but I'll be curious if you find out otherwise.

thisisjeopardy

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Re: Continuing Simple IRA Contributions after leaving job?
« Reply #2 on: July 10, 2016, 11:36:56 AM »
I went through this and IIRC that is not an option. I opened a tIRA and rolled it into that.

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