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Basic SHM & Dual Eligibility


certified3006

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I have a plan that currently has a basic safe harbor match.  Deferrals and SH have same eligibility of age 21 & 1 year w/1000 hours.  They want to change deferral eligibility to immediate upon date of hire, but leave the SHM eligibility as is.  Is this allowed?  If so, can this be changed mid-year or must it be effective 1/1/2019?

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Is this a Top Heavy plan?

If it is, the plan will be giving 3% Top-Heavy to Immediate entry employees.

And probably won't be an issue, but you have to run an ADP test on those not getting the safe harbor because of immediate entry.

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  • 1 month later...

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