cdavis25 Posted July 9, 2020 Share Posted July 9, 2020 Can a plan amend their document during the plan year to exclude HCEs from PW? This is not a SH plan. Link to comment Share on other sites More sharing options...
Lou S. Posted July 9, 2020 Share Posted July 9, 2020 If they have already met the terms for an allocation I believe that would be a prohibited cutback. Link to comment Share on other sites More sharing options...
Larry Starr Posted July 9, 2020 Share Posted July 9, 2020 3 hours ago, cdavis25 said: Can a plan amend their document during the plan year to exclude HCEs from PW? This is not a SH plan. You just don't make PW contributions for those HCEs. There is nothing that REQUIRES PW contributions for any particular person. If the plan is properly written, PW contributions are effectively allocated to each person as if they are in their own "group". You don't have to amend the plan at all. Obviously, if those HCEs are doing PW work, you will have to pay them in cash instead. Lawrence C. Starr, FLMI, CLU, CEBS, CPC, ChFC, EA, ATA, QPFC President Qualified Plan Consultants, Inc. 46 Daggett Drive West Springfield, MA 01089 413-736-2066 larrystarr@qpc-inc.com Link to comment Share on other sites More sharing options...
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