Sec. 310. Roth SIMPLE IRAs
142 words·~1 min read·
/bill/115/s/3781/is/section-310·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 408A(f) is amended— by striking or a simple retirement account in paragraph (1); and by striking or account in paragraph (2). Section 408A(c)(2) is amended by adding at the end the following flush sentence: In applying this paragraph to an individual on whose behalf elective employer contributions are made to a simple retirement account, the amount described in subparagraph
(A)shall be increased by the amount of elective employer contributions made on behalf of the individual to such account, except to the extent that such contributions exceed the applicable dollar amount (as defined in subsection (p)(2)(E)) or cause the elective deferrals (as defined in section 402(g)(3)) on behalf of such individual to exceed the limitation under section 402(g)(1) (taking into account subparagraph
(C)thereof). . The amendments made by this section shall apply to taxable years beginning after December 31, 2018.