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Showing content with the highest reputation on 02/17/2020 in Posts
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Amending 401k to Safe Harbor Non-elective mid year 2020
RatherBeGolfing reacted to David Schultz for a topic
FWIW, as one of those frequent speakers, it is very unlikely to me that the ACP safe harbor would be able to be retroactively applicable. There is too much potential for abuse. Moreover, the statutory language doesn't modify IRC §401(m), so it would be a rather aggressive stretch for the IRS to apply the new rules to the ACP test as well.1 point -
Partnership Comp Calcs Forfeitures
Luke Bailey reacted to Bri for a topic
Correct. No reduction in one's personal income simply based on the fact there was extra money already in the plan's trust.1 point -
Is there any safe harbor.....
David Schultz reacted to Larry Starr for a topic
No. Sometimes there is a very clear and simple answer, and that is the case here. I'm pretty sure we have no safe harbor plans that allow voluntary after tax contributions.1 point -
Is there any safe harbor.....
David Schultz reacted to Bill Presson for a topic
After tax contributions are always subject to ACP even in a safe harbor plan.1 point -
Amending 401k to Safe Harbor Non-elective mid year 2020
Pammie57 reacted to justanotheradmin for a topic
I would point out that I have heard mixed opinions about the ACP safe harbor applying or not applying. Like many people I have been listening to many of the industry webinars on the SECURE act, and while I think many of the presenters agree with this, some seem to think the ACP safe harbor would still apply. So moral is to wait and see what the guidance says?1 point