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Subject:  Re: S-Type Corp Retirement Plans Date:  12/16/2004  4:38 PM
Author:  Hear2Stay Number:  10888 of 15018

"In addition to the employees' salary reduction contributions, you are generally required to match each employee's salary reduction contribution on a dollar-for-dollar basis up to 3% of the employee's compensation. Instead of the matching contribution, you may choose to make nonelective contributions of 2% of the employee's compensation (compensation used for this contribution is limited to $200,000 in 2003, $205,000 in 2004 and subject to cost-of-living adjustments for later years)."

So it looks like in addition to the 9k for maximum for employee contributions for SIMPLE-IRAs, the employee can match the contributions up to 3% of the employee's salary.

It's not much, but every little bit counts.

Random question: You can have both a Roth IRA and a SIMPLE IRA, right?
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