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True Up Contribution


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Plan has a fixed match 50% up to 4%

Effective 10/15 the match was changed to discretionary - the employer will match 50% up to 6% - funded each payroll for the remainder of 2020. In addition, the employer added the true up feature as of 10/15/2020 for the 2020 plan year. 

Questions. On 12/31/2020 when the true up is calculated , is the match contribution based on the formula in place as of 12/31? Therefore, even though  the match was 50% up to 4% for the first 10 months, you use the total wages and deferrals as of  12/31 and determine the true up base on the 50% up to 6% formula. 

Thanks

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