Leaderboard

Tell the owner he better have all those enrollment forms with 0% deferrals...

And for S-corp shareholders it has to be some basis of W-2, cannot include any K-1.

did a little more research, at least at the 2009 ASPPA Q and A 48-53 (a whole bunch of questions on this one!) the IRS voiced an opinion such comp is eligible 48. An employee terminates in December 2009. A final payment of salary due for services is made in January 2010. The plan does not use the “first few weeks” rule in the IRC §415 regulations to treat the January payment as made in 2009. The plan year is the calendar year. The plan includes a section 401(k) arrangement that defines compensation eligible for deferral to be section 415 compensation. Is the individual included in the 2010 ADP test, even though he terminated employment in the 2009 plan year? Yes. Since he could defer out of the compensation paid in January 2010, he is an eligible employee under the 401(k) arrangement for the 2010 plan year. The 401(k) regulations do not treat active and former employees differently 50. Suppose instead that the plan is a safe harbor plan that provides the safe harbor nonelective contribution. Is this individual entitled to that contribution? Yes. Since, as discussed in Q-1, the individual is treated as an eligible employee for 2010, he is entitled to a safe harbor contribution. However, if this individual is an HCE, and the plan does not provide the safe harbor contribution to HCEs, then no safe harbor contribution is made on his behalf. The same answer would apply to a safeharbor match if the individual made elective deferrals out of the 2010 compensation. ..................... Robert Kaplan gave an ASPPA presentation the following year and included this stuff in his talk http://www.asppa-net.org/Portals/2/Defining Compensation in Qualified Plans.pdf

I had a hot dog last night that was ketchup eligible...

- The problem with political jokes is they get elected. ~Henry Cate, VII - We hang the petty thieves and appoint the great ones to public office. ~Aesop - If we got one-tenth of what was promised to us in these State of the Union speeches, there wouldn't be any inducement to go to heaven. ~Will Rogers - Those who are too smart to engage in politics are punished by being governed by those who are dumber. ~Plato - Politicians are the same all over. They promise to build a bridge even where there is no river. ~Nikita Khrushchev - When I was a boy I was told that anybody could become President; I'm beginning to believe it. ~Clarence Darrow - Why pay money to have your family tree traced; go into politics and your opponents will do it for you. ~Author Unknown - Politicians are people who, when they see light at the end of the tunnel, go out and buy some more tunnel. ~John Quinton - Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer - - I offer my opponents a bargain: if they will stop telling lies about us, I will stop telling the truth about them. ~Adlai Stevenson, campaign speech, 1952 - A politician is a fellow who will lay down your life for his country. ~ Tex Guinan - Any American who is prepared to run for president should automatically, by definition, be disqualified from ever doing so. ~Gore Vidal - I have come to the conclusion that politics is too serious a matter to be left to the politicians. ~Charles de Gaulle - Instead of giving a politician the keys to the city, it might be better to change the locks. ~Doug Larson - Don't vote; it only encourages them. ~Author Unknown - There ought to be one day -- just one -- when there is open season on senators. ~Will Rogers