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Showing results for tags 'after tax contributions'.
Found 4 results
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Hello All, one of plan has After tax contribution and there are allocation conditions for match (1000 hours for Active & last day requirement). In ACP test do we need to include all, irrespective of the allocation conditions as everyone is eligible to make after tax contributions which are tested under ACP test. Thanks!
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An employee is sending in some after tax dollars as a rollover to us and I cannot recall a situation like this in my past. A co-worker researched and determined that this is good to be rolled over to one of our Plans. That's the details.... What source would you build in Relius to put these funds into? (I have a call into Relius also.) Would you put into a rollover source and name it Rollover EE Voluntary? Not sure if I can track basis with that source. Would you build an after tax source and name it Rollover EE Voluntary? I think that opens up the tracking of the basis, but not sure if this source picks up in top heavy calculation and I would think it would be excluded from top heavy calculation. (of course, it depends on the Plan doc) Any thoughts on this?
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Hi. I am looking at a 457(f) plan that permits after-tax contributions. Please help me - why would a person want to give their already-taxed compensation back to the employer? Deferral of taxation on earnings for a few years does not seem to warrant the risk of the sponsor's bankruptcy. What am I missing? Thanks! This board'S moderators and contributors are the best! P.S. All I could find on Google and elsewhere was a GuideStone plan adminstrator's guide that had a reference to 457(f) plans that permit after-tax contributions.
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Rev. Rul. 69-277 says it's okay to distribute voluntary after-tax contributions from a qualified plan at any time. This still appears to be good law, as it is cited as recently as in Notice 2004-12. How does this interplay with IRS Notice 2014-54? If a plan has both pre-tax and after-tax amounts in it, can a participant withdraw just the voluntary after-tax contributions? Or does 2014-54 require that any distribution (even if no "distributable event," meaning they are still employed, not over 59-1/2, etc.) be a pro rata mix of pre-tax and after-tax? I keep thinking there must be some way to withdraw just the voluntary after-tax, otherwise 69-277 is useless, but can't figure it out. Does it hinge on a "distributable event" issue? Any help would be appreciated!
