Home SIMPLE IRA Plan setup Can I limit my employee's eligibility for a SIMPLE IRA plan?

Can I limit my employee's eligibility for a SIMPLE IRA plan?

Last updated on Sep 17, 2024

Yes, you can limit your employee’s eligibility based on their annual compensation. To achieve this, you need to select the option of ‘Eligibility is limited based on the employee compensation’ under the ‘Employee Eligibility’ section.

Following that, you need to provide the compensation limits in the designated field.