Who Contributes To A SIMPLE Plan Ira?
When you get your SIMPLE Plan, the people that make the Ira contributions are part the employee and and part the employer. The employee must have gained $5000.00 of compensation from the employer or they should receive at least $5000.00 dollars in the year that they will be contributing to their Ira or their 401K plan. The SIMPLE Plan also works well for the self employed individual who has proof of receiving earned income. There are also employees that an employee can exclude from the Ira such as employees who are under a union contract, employees who are non resident aliens, or employees who have not made the amount of money required.