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Contribution req. in year of term?

Guest Penny17

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Guest Penny17

This is probably an old question, but I need to know whether a contribution/allocation to a money purchase pension plan is required if the plan termination date occurs mid-year and the plan terms require an employee to work at least 1,000 hours of service and be employed on the last day of the plan year in order to receive a contribution. The employee already has worked 1,000 HOS but has not completed the second requirement, last day employment, until after the plan has terminated.

Would it make a difference if the account was distributed after plan termination and prior to the last day of the plan year?

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