Are Savings Incentive Match Plan for Employees (SIMPLE) IRA plan participants allowed to contribute to a Traditional or Roth IRA?

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Are Savings Incentive Match Plan for Employees (SIMPLE) IRA plan participants allowed to contribute to a Traditional or Roth IRA?

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Yes, subject to the Traditional IRA and Roth IRA deduction rules and limits, including those that apply to retirement plan active-participation guidelines. An employer cannot maintain any other employer-sponsored retirement plan for any tax year in which the SIMPLE IRA is maintained, unless the other plan is for employees covered by a collective bargaining agreement.

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