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What happens to my SIMPLE IRA if I leave my employer under Secure 2.0?

Secure 2.0 does not change what happens to your SIMPLE IRA when you leave your employer. Your account and all of the money in it remain yours, even after your employment ends. You do not forfeit any contributions because SIMPLE IRAs are immediately vested.

When you leave your employer, you generally have several options for your SIMPLE IRA. You can leave the account where it is, continue to let the balance grow, or roll the funds into another eligible retirement account when allowed. SIMPLE IRAs are subject to specific timing rules that determine when you can roll funds into another IRA or retirement plan. These rollover rules existed before Secure 2.0 and still apply today.

Understanding your rollover timing matters because moving funds too early or incorrectly can create taxes or penalties. WealthRabbit helps employees understand their SIMPLE IRA account options so they can make confident decisions about managing their retirement savings after a job change.