ldr Posted May 3, 2021 Share Posted May 3, 2021 Hi to All, We have a plan drawn up by a local ERISA attorney that is a tribal non-ERISA 401(k) plan. One of the participants routinely exceeds the 402(g) limit by about $1,300 each year. We bring it to the attention of the plan administrator and ask them politely to please monitor this carefully and stop doing it, but we are ignored. If this was a regular corporate 401(k) plan of any of our other clients covered by ERISA, we would get in touch immediately upon the discovery of the error and let them know that the excess plus earnings has to be removed. We haven't done that so far with this client because they are a tribal entity, the plan isn't covered by ERISA, and we don't know to what extent they have to follow the rules. Does anyone else have any experience with this or insight as to how to handle it? Thank you as always. Link to comment Share on other sites More sharing options...
ldr Posted May 3, 2021 Author Share Posted May 3, 2021 Question withdrawn. I was given incorrect information by the person who asked the question. In fact, a refund was processed for 2019 and one is in progress for 2020 as well. Bill Presson and Dave Baker 2 Link to comment Share on other sites More sharing options...
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