What is the salary deferral timeline for a new plan for the owner?
My client finally decided to establish a 401(k) profit sharing plan for the 2015 plan year (January 1 to December 31) last November.
Since there will be the last two payroll to defer from and 100% of the owner final two payroll check doesn't add up to get him to the 402(g) max that he wants to contribute, will he be allowed by law if he write a personal check to make-up the remaining amount to get him to the maximum deferral amount.
What is the salary deferral timeline ramification for the other non-owner participants?
Thanks!