Log in

Can We Require Employees to be Employed at Year-End to Receive a Safe Harbor Contribution?

DWC 07/30/19
Facts Our company sponsors a safe harbor 401(k) plan.  Each participant receives a safe harbor nonelective contribution equal to 3% of his or her annual pay.  Our TPA calculates the safe harbor contribution for us after the close of each year, and we deposit it sometime before we file our company tax return for that year.  Each year, we have a ...
Read More

Are We Required to Force Former Employees to Take Their Money Out of Our Plan?

DWC 04/23/19
Facts We just received our year end testing and it mentioned that we have several terminated participants with small balances that we are required to distribute from the plan.  I remember seeing something in one of our documents that mentioned distributions for account balances below $5,000, but I’m not entirely sure what that means or how I’m ...
Read More

Categories

See all

The views expressed in this blog are those of the authors and do not necessarily represent the views of any other person or organization. All content is provided for informational purposes only and is not intended to be tax or legal advice.