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Can We Add a Safe Harbor Provision While Maintaining Flexibility in Contribution Costs?

DWC 09/22/20
DWC 401(k) Q&A Question of the Week: Adding Safe Harbor Provision, Maintaining Contribution Cost Flexibility
Facts We currently sponsor a 401(k) plan and have been debating adding a safe harbor provision for 2021. While the idea of buying our way out of the ADP/ACP tests is appealing, we’re nervous about the idea of a mandatory contribution. If cash flow isn’t what we expect in a given year, we don’t want to be stuck with expensive contributions.
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Is There Any Coronavirus Relief for Participants Who Want to Postpone Plan Loan Payments?

DWC 04/14/20
DWC 401(k) Q&A: Is There Any Coronavirus Relief for Participants Who Want to Postpone Loan Payments?
Facts Several participants in our 401(k) plan currently have outstanding plan loans, and many others are looking to initiate them. However, given the current pandemic, many participants are concerned that they won’t have the funds available to continue making payments right now.
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An Employee Joined the Plan Too Soon:  No Harm, No Foul or Failure In Need of a Fix?

DWC 07/17/18
QOTW - 7.17.2018 - Employee Joined the Plan Too Soon - Qualifed Plan Compliance
Facts In order to be eligible for our company’s 401(k) plan, employees must have worked for us for at least a year and be a minimum of 21 years old. They can join the plan on the next January 1st or July 1st following the date they meet those requirements. Recently, we discovered that we allowed an employee to start contributing to the plan before ...
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