alwaysaquestion

Does the plan document need to have an amendment that allows for the participant to self-certify the request? Does the participant need to provide any documentation to the Plan Administrator/Trustee for the hardship reason and the amount required. The request is being made for the full amount in the participants account

how often does a plan need to provide a participant statement in a 401(k) Plan? The money is all in a brokerage account (pooled)

This plan is 401(k) their are 4 participants 2 hce and2 nhce's Have a corporate ext receive earned income I am working on the 12/31/2023 plan year end. Do the hce's have until the due date of their corporate return 9/15/2024 to make their salary deferral contribution for the 12/31/2023 plan year end

Our group needs to get clarification on: Can the 3% safe harbor non elective contribution be used to help pass the cross-tested analysis. Some say it can be used to help pass only the rate group Some say that the safe harbor match can be used to pass the testing Some say that the 3% can't be used to help pass the testing requirements. are we all wrong? Is some part above correct?

This is a 3% non-elective 3% safe harbor hce are included in the plan (they are allowed to participate in all contribution sources). The question is: the client does not want one of the hce's to receive the 3% safe harbor contribution. Can we simply not give the HCE the 3% safe harbor contribution?

I have a plan that is a 3% safe harbor and a cross tested profit sharing (each person is in their own group). There is a last day and 1000 hours requirement for the profit-sharing allocation. This is a 12/31/2023 plan year end. Can I do an amendment in 2024 to take out the last day and 1,000 hours requirement for the 12/31/2023 plan year by the end of 12/31/2024?

thank you, you confirmed what I thought

I have a 12/31/2024 Plan that want to amend the safe Harbor 3% non-elective contribution out of their plan for the plan year being 1/1/2024, can they amend the plan now to eliminate the 3% safe harbor contribution out of the plan for 2024?

I have a participant wanting a hardship withdrawal to purchase a primary residence. I have been looking for what is not allowed in the closing cost. For example can they be reimbursed for the down payment they already made or for the amount going into escrow for property tax and homeowners insurance which would be part of the monthly mortgage payments. My thought is that these are not "immediate and heavy financial needs" is there something in writing that I can send other than "immediate and heavy financial needs"