Leaderboard

So all eligible employees are subject to the same rate of match, correct? 0% on the first 3% and then 25% on deferrals above 3%. I think you are OK, even for BRFs. It would not fall under any safe harbor protections and would have to satisfy ACP testing which in a sense polices your effective availability - which is a facts and circumstances test.

Yes Yes The distributed amount is included as income in 2020 or over 3 years. If the withholding exceeds taxes due, it could be refunded or carried forward to the next year.

Several thoughts -- 1. Since the Florida Retirement System is a state pension, it is not subject to any national regulation. If anyone mentions the word ERISA to you, ignore them. Any rights you have are a creature of Florida Law. 2. What kind of notice did you receive initially about applying for DROP? If you weren't told when you became DROP eligible, there may be something worth investigating there. Also, was your initial contact date (March 2020) inside or outside your DROP window? There is a concept called promissory estoppel that may apply, but probably only if you missed the deadline because of bad information. If your deadline was already gone, though, you have a harder road to a benefit.. 3. Have you tried contacting the office of your state representative? (Either state house or state senate). They may be able to help you with the state agencies. 4. You may want a lawyer to advise you. Be careful, though. Also, you may want to get in touch with the Pension Rights Center.

Agreed that participants who are eligible for the match even though they are contributing 3% or less still count as benefitting for the 410(b) test, eligible employees in the ACP test, and benefitting for the current availability BRF test. There is some concern that this type of match formula could have problems with the effective availability portion of the BRF testing.

One has nothing to do with the other. They can make deferrals if they have a plan that lets them make deferrals. Deferrals come from payroll, so it has nothing to do with PPP money.

I'm just guessing here: Probably, the original was a draft. (Not unusual. It's a good idea to get Plan Administrator review of a draft.) However, if the draft was OK'd, but no one ever got a final order (ie, from the court), then the plan/plan administrator had nothing to do. Maybe your attorney dropped the ball in the follow-up?

Good, ... and change the QDRO procedures to reflect it.