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Can you amend plan to add a form of payment
Blackbirch reacted to XTitan for a topic
In general, if the participant were make an installment election on existing balances, that would be a subsequent deferral election (1 year/5 year rule applies). Prospectively, it would be generally be treated as an initial deferral election, provided all the usually timing rules are followed, and plan amendments are in place.1 point
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