Leaderboard

See John See John show auditor copy of preamble to 415 regs. See John make auditor read this portion of the 415 regs page 13 of the pdf “As noted above, the final regulations provide that a plan cannot take into account compensation in excess of the section 401(a)(17) limit. In addition, the final regulations provide that elective deferrals can only be made from compensation as defined in section 415©(3). However, in applying these two rules, a plan is not required to determine a participant’s compensation on the basis of the earliest payments of compensation during a year.” see John make auditor read last sentence 100 times, and stand in the corner 415 regs.pdf