hnh93

I know the company you're talking about. I work for a TPA firm and we have had clients receive the same emails targeting the same 5500 information. It is definitely a shady business practice and your outrage is justified. Employing this kind of fear tactic would be - I believe - an ethics violation for those of us with ASPPA credentials (I would think NIPA as well) so it's disappointing to see such a large, "reputable" company take this route.

I have a 401(k) plan where the employer has many union employees covered by a collective bargaining agreement. The union employees are currently excluded from the 401(k) plan. The owner is covered by the CBA under a separate union agreement, along with only a few other employees. For a little background, about 75% of the company's workforce is made up of union employees. If the plan were to amend to allow employees from only the separate union agreement that includes the owner, would all union employees need to be included in the compliance testing, regardless if they are excluded from the plan? The concern is that including all union employees would more than likely result in failed coverage testing.