Reminder to SIMPLE IRA plan sponsors:

The required annual notification to your eligible employees must be provided no later than Friday, November 1, 2013 for the 2014 plan year. Eligible employees must receive notification of the upcoming election opportunity along with the sponsor’s choice of contribution method that will be used next year.

While some brokers or other document providers may inform their plan sponsors of the notification requirement, we can provide your clients a letter of explanation along with a “check the box” notification and a salary reduction form their employees can use to elect participation in the plan. The IRS has not yet released the COLA indexes but the expectations are that there will be no increases in 2014.

If you have any questions, please contact your JMF Pension Department at:

Sonya 205.366.4069
Mindy 205.366.4058
Anita 205.366.4002