RRivera

Hello, This is the situations: Employee met 401(k) eligibility prior to termination on 2/15/2019 Employee hired at 6/22/2020 Without the employee making any affirmative election, system generates a 401(k) contribution on her first paycheck based on the contribution prior to termination. The plan has automatic enrollment ( July 2, 2020- automatic enrollment disclosure sent to employee) My questions is as follows: Doesn't the employee supposed to affirmatively elect participation again once rehired? If so or not, where in the rules does it state this? My limited understanding is that unless the employee is automatically enrolled based on due process of notification, there has to be an affirmative election. Am I wrong?

1) If an employee already has an outstanding loan, can they get another loan during this crisis? Our current plan documents only allow 1 loan, do we need to do an amendment? 2) If this same employee takes out a loan, can they stop their loan paycheck deductions on one or both loans for loans for 1 year as per the new CARES ACT? 3) If an employee wants a hardship withdrawal to cover expenses incurred as a result of this corona virus, what back up documentation do we need from them to prove this? 4)Is an employee eligible for a hardship withdrawal (to cover expenses incurred as a result of this corona virus) if they are still working full time hours at the same rate of pay? 5) Can an employee request a covid hardship based on a spouse being terminated/laid off and it impacts the monthly income for the household?

Hello, My employer retirement plan is based on two employees. The owner and an employee. However, testing resulted in the owner being top heavy at 64%. However, they are a Safe Harbor at 4% as well as the prior year. My question, is there any additional requirement on part of the owner on contributions? Thanks

Hello, A participant is demanding a copy of the Adoption Agreement. She was provided will all the other required notices. Here is her email response. I have researched and all parties I have spoken to state that the employer has discretionary choice to provide the Adoption Agreement. Has anyone encountered this and what was the response?

I have looked everywhere for the rules pertaining to safe harbor loan provisions. Does anyone have any documentation in reference to this topic?