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FWIW, SIMPLE-IRAs require little in the way of administrative costs, also. One can defer 8k in salary in 2003 in addition to funding a Roth.

Can the SIMPLE-IRA be established if certain employees do not wish to participate?

That is the problem with the SEP and/or money purchase plan. There is one employee that does not wish to participate, therefore none of us can participate in those plans. Thus the question related to sharing the administrative costs of an alternate plan.

However, I mentioned in a previous post that this is a contract job so I am a little reluctant to start shelling out cash for a retirement plan in the event my contract is not renewed. Granted I started on a 3 month contract and I have been here a little over 15 months but you never know what may happen.

Thanks for the feedback.

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