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Subject:  SARSEP Date:  1/31/1999  10:11 PM
Author:  dmmbmsi Number:  8213 of 105989

We have a small company and started a SEP-IRA before the 12/31/96 deadline for what I think is now called a SARSEP. Each employee is allowed to designate up to 15% of their income for pretax contribution to an IRA account.

Merrill Lynch is handling this because they were the first ones to respond to us. I was satisfied with their 97 performance (although it was not outstanding) but their 98 results were the pits.

I see than Vanguard appears to have a SEP-IRA plan (although I didn't learn much from their website). Can anyone confirm that we can move from Merrill Lynch to someone else without losing the special SARSEP arrangement we established in 96?

Any suggestions, pitfalls, etc would be appreciated.

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