Bob Demontigny Posted September 14, 2022 Share Posted September 14, 2022 Takeover document for 2021 limits 401(k) contributions to 17% of pay. Some are over that % for 2021. Are those considered 402(g) or Excess 415 contributions? Link to comment Share on other sites More sharing options...
Lou S. Posted September 14, 2022 Share Posted September 14, 2022 Neither. It's a failure to follow the terms of the document (unless the excess is catch-up eligible in which case you are fine). Luke Bailey 1 Link to comment Share on other sites More sharing options...
Bob Demontigny Posted September 14, 2022 Author Share Posted September 14, 2022 Thank you Lou. Of course, I failed to mention that the takeover document excluded catch up contributions but I would infer the same failure under EPCRS would apply. Link to comment Share on other sites More sharing options...
Nate S Posted September 15, 2022 Share Posted September 15, 2022 17 hours ago, Bob Demontigny said: Takeover document for 2021 limits 401(k) contributions to 17% of pay. Some are over that % for 2021. Are those considered 402(g) or Excess 415 contributions? Was that limit specific to 2021? If so was it for ADP purposes, and did they actually pass or fail considering the "excess" amounts? Link to comment Share on other sites More sharing options...
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