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How is a SIMPLE IRA plan amended for EGTRRA?

April 26, 2017egtrra IRA Plan simple

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How is a SIMPLE IRA plan amended for EGTRRA?

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If a prototype plan is used, the plan sponsor should have received an amended plan from the financial institution that provided it. If a new plan document wasn’t received, contact the financial institution. While the financial institution provides many administrative services for plans, it is the plan sponsor’s responsibility to ensure that the plan is kept up-to-date with current law.