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Old 10-15-2006, 10:31 PM
Phoebe Roberts, EA
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Default Re: Leaving my job tomorrow... What happens to my SIMPLE IRA match???

dakotaduff[at]gmail.com wrote:

- quote -

> Now that I'm leaving, my employer is telling me that they're
> not going to make the contribution until April 15th of '07!


Completely within their rights. Heck, there's a good chance
they have until October 2007 to make the contribution.

Depending on how the plan is set up (all accounts must be
with one custodian vs. you can have your account where you
want), you may be able to roll to a new custodian now.

Phoebe

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
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Old 10-15-2006, 07:44 AM
dakotaduff@gmail.com
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Default Leaving my job tomorrow... What happens to my SIMPLE IRA match???

Tomorrow is my last day at my current job and I brought up
my SIMPLE IRA match today at work and it seems my boss wants
to fight me on it.

I've been making a contribution of 3% of my pay since the
second pay-period in January (as soon as I could), and my
employer only matched the first three payments (through the
end of February). I tried not to make a stink of it-it was
enough trouble just trying to get them to deposit the
portion withheld from my check!

Now that I'm leaving, my employer is telling me that they're
not going to make the contribution until April 15th of '07!

I (think) I understand that they aren't obligated to deposit
their match until the end of the tax year, but I thought
that when an employee leaves the deposit would be made as
soon as possible to allow them to roll over.

Where do I stand on this?

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
 

Tags
ira, job, leaving, match, simple, tomorrow
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