Leaderboard

No

and don't forget, even if there is a last day rule, there may be exceptions to that (and hours) for death, disability and retirement - so if you had any of those occurrences I think you're precluded from amending the formula.

Maybe. But, again, I've yet to hear about an auditor question +1. Side question: what is the penalty for having loan rates too high or too low? Is it a prohibited transaction? Some sort of fiduciary breach? What would the remedy be?

for the moment, lets ignore the fact the plan is a safe harbor plan If someone has already accrued the right to the contribution (e.g. only need 1000 hours and no last day rule) than I don't see how that is possible to amend the formula - at this late date people have probably already accrued a right to an integrated formula contribution. that could result is a cutback. so I think the answer depends on what are the current conditions to receive a profit sharing.