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Showing results for tags '401(k) plan'.
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I think this is correct, but as a sanity check since it seems harder than expect to find authority on this - if a 401(k) plan is frozen, it's still permissible for participants to take out new loans and hardship withdrawals, correct?
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We have a client that has an LLC where the employees are paid and each of the three partners have their own s-corp. The LLC and two partner's have a simple plan. The other partner wants to have his own 401(k) plan. Each partner is a 33% owner of the LLC. Can the one partner have his own 401(k) plan?
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Three companies A, B, and C. Company A is a Plan Sponsor of a 401(k) plan. Companies B and C are participating employers. Company C is an LLC taxed as a partnership. Employee is a 20% owner of Company C (Limited partner or other LLC member). No compensation on line 14 A of Schedule K-1. He receives a W-2 from company B. Would Employee be considered a highly compensated employee in the 401(k) plan for discrimination testing?