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King Washington Form 5304-SIMPLE: What You Should Know
All applicants shall be of sound mind and conduct and shall fully cooperate with the agency in the discharge of its duties as set forth in this agreement 6. Employee Eligibility—A. To be an Eligible Employee an employee of the Employer shall be of sound mind and conduct and shall fully cooperate with the agency in the discharge of its duties. 6. Employee's Rights and Responsibilities. Each Eligible Employee is eligible to contribute to the IRA subject to the following requirements: 6.1 Contributions. Contributions to the SIMPLE IRA to be made by the Eligible Employee will be tax-free. Each Eligible Employee must provide his or her social security number when enrolling (SSA Form SS-5 and/or SS-5C or SS-5PIC with or without signature) to request that the Eligible Employee's contributions be sent to the SIMPLE IRA plan. The Eligible Employee and the Employee Eligibility Officer will determine the amount of each contribution and the manner in which the Eligible Employee or Employee Eligibility Officer will distribute the Contributions. 6.2 Employees with Dependent Children. Each Eligible Employee may, with the written approval of the Employee Eligibility Officer, defer any portion of his or her earnings and contributions into the SIMPLE IRA plan with respect to his or her child, provided that the total amount contributed to the SIMPLE IRA shall not exceed the maximum amount that may be underwritten in the name of an employee at his or her age (age 60 in 2018). The contributions must be disbursed to the SIMPLE IRA Plan by the end of the first week of the third full calendar month after the year of payment of the Employee's full retirement under an SSA-OP or SIMPLE IRA. 6.3 Employees on Paid Leave. An Eligible Employee who has been employed by the Employer for more than six months in a twelve-month period, may, notwithstanding the limitations on earnings, contribute and elect to contribute a portion of his or her earnings for a SIMPLE IRA plan under the Retirement Plan for Employees of King County pursuant to Section 6-302(2) for that purpose, provided that: 1. The employer's annual taxable earnings during the calendar year in which the employee's regular service ends shall be at least twice the applicable statutory benefit amount, 2. The employee shall be an eligible employee at the time the contribution is made. 3.
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