I have a SIMPLE at work, where my employer matches up to 3%, and we are immediately vested. Unfortunately, my boss employs a smooth, money grabbin' "advisor" who gives us only the most expensive, fee-encrusted vehicles available. There is, however, a money market option with no comish (lousey return). Can I start directing my money into that no comish money market, then have it transfered to a Roth at a good no load family, thereby paying the tax, but avoiding the comissions to the "advisor"? You should have been told in writing that you can have your SIMPLE any place you want it. You're free to roll it into another SIMPLE at will.You are not free to convert your SIMPLE to Roth at will. During the first 2 years of the SIMPLE, you can do rollovers only to other SIMPLEs. (Roth SIMPLEs don't exist.)See IRS Publication 590.TMF ExROPhil MartiHot off the press! Check out The Motley Fool Investment Tax Guide 2001. It comes complete with a money-back guarantee. (Sorry, the steak knives are extra.)http://www.foolmart.com/Shopping/Product_View.asp?PRODUCT_ID=MF030_02
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