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Author: gettergo One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75797  
Subject: Trad. IRA & Simple IRA Date: 12/4/1999 11:41 AM
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I had this question asked me. Co. allows all employees making more than $5000. to contribute to a Simple IRA, with an up to 3% of salary match by Co. Smart Fool and part time worker wants to take Co.s free money, but only wants to fund at 3% of $10,000. a year wage. Result would be: $300. employee cont., and $300. Co. cont. Employee presently has Trad. IRA. Can employee continue to fund Trad.IRA, minus either the $300 or $600. that would be going into The Simple IRA?

I'm certainly aware it would be far easier to just cont. to the Simple plan in the same amount as the Trad.plan (ie. $2000 and employee picks investment), but it seems this would some how throw off "weekly budgeting".

Thanks for any help, Gettergo
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