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My employer offers a SIMPLE Plan - basically a 401k plan for small businesses. Someone at Charles Schwab told me that it is actually an IRA and, therfore, I could not purchase a Roth as well. Is this true?

Also, my wife just quit work to stay home with our daughter. She's been investing in her company's 401k so far this year. Is she also ineligible for a Roth this year?

Thanks, Larry
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