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Started the new job - Simple IRA
Posted on 4/8/14 at 1:36 pm
Posted on 4/8/14 at 1:36 pm
Smaller company so they offer simple IRA, and I am planning to take advantage of it, but they will only match up to $3K.
Anybody here dealt with Simple IRA before and can give me any pointers on how to maximize it?
Anybody here dealt with Simple IRA before and can give me any pointers on how to maximize it?
This post was edited on 4/8/14 at 1:45 pm
2
Posted on 4/8/14 at 2:46 pm to 03geauxtigers
maximize it so that you get the full 3k
Posted on 4/8/14 at 2:52 pm to Ford Frenzy
Contribute to the point that you get the full $3000
Posted on 4/8/14 at 3:00 pm to Ford Frenzy
I assume that the employer matches dollar for dollar on the first 3% that the employee contributes. In order to get the full $3k employer match, the employee would have to be making $100k.
Posted on 4/8/14 at 5:19 pm to tigerrocket
Simple employer can match up to 3 percent of salary. Max contribution is 12k and 2500 catch up contribution for 2014
This post was edited on 4/8/14 at 5:46 pm
Posted on 4/8/14 at 6:15 pm to 03geauxtigers
We have these at my work, best thing about them is that the account is in your name, it goes with you when and if you leave, no vesting
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