Ken Davis Posted March 28, 2003 Report Share Posted March 28, 2003 Regarding a state DB plan with a 7/1-6/30 plan year. When 401(a)(17) was amended in '93 by P.L. 103-66, I'm being told that state employees hired before 7/1/96 were grandfathered in with no compensation limit under 401(a)(17). But several IRS Notices since then, including the latest (IRS Notice 2002-71), apparently say that a compensation limit does apply to those employees. Notice 2002-71 says the limit for 2003 is $300K. Which is correct? Pre-7/1/96 employees have no compensation limit, or the limit is $300K. Thanks, Ken Davis Link to comment Share on other sites More sharing options...
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!Register a new account
Already have an account? Sign in here.Sign In Now