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Showing content with the highest reputation on 02/27/2021 in Posts
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Exclude commissions on match
Eve Sav reacted to C. B. Zeller for a topic
The compensation ratio test would only be needed if you want to exclude commissions from comp on the ACP test. If you are using total comp in the ACP test then it doesn't matter how you define comp for the match formula.1 point -
Forced rollovers to separate retirement
Planit 401k reacted to Peter Gulia for a topic
Not exactly what you describe, but I have seen plan provisions and communications by which a terminating plan’s final distribution results in a default direct rollover to the next employer’s plan if the participant has not by a specified due date after a reasonable time delivered her instruction to be paid money or for a direct rollover to another eligible retirement plan.1 point -
Question about forced termination of 401k
Planit 401k reacted to Bird for a topic
You have 60 days to do a rollover. It gets a little bit ugly if taxes were withheld...using your round number of $400 net received, the gross would be $500 with $100 of taxes withheld. You can roll over the full $500 - the other $100 comes out of your pocket. If you roll over $400, you will be taxed on the $100 that was effectively not rolled over because it went to the IRS.1 point
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