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SARSEP adobted before 12/31/1996 but not funded


Guest jschoolman
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Guest jschoolman

An employer formally adopted a SARSEP before 12/31/1996; however, no employee contributions were ever funded. Now, there are employees that would like to contribute to the SARSEP. Can the employees do so even though SARSEPs were repealed by SBJPA'96?

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Guest Don J. Smith

I'd take caution here. There is a definite argument that since the plan was never funded that it didn't really exist. Personally i'd advise against it. There are better alternatives.

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