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Showing results for tags 'catch-up'.
Found 3 results
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7-31-17 year end plan Participant over 50 deposits max DC plan limit profit sharing during the plan year as well as $8000 salary deferrals. Per calendar-year his deferrals are below the calendar year catch-up limit each year, however during the plan year they are as stated above. Because he exceeded the 415 limit instead of the 402(g) limit, must I limit his catch-up to 6,000 for the plan year? Or may I assign the "catch-up" contributions to the year they were deferred (thus, allowing all of his contributions for the plan year). Most threads I have seen regarding fiscal year catch-up are tied to 402(g) limits and ADP corrections, so thank you in advance for answering if previously discussed.
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Can a private school allow the 15 year catch-up provision in a 403(b) document? I have seen information that says only public schools can use the 15 year catch up, but other sources say both private and public schools can allow this provision. Does anyone know for sure? Thanks.
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I have a plan that normally passes ADP easily and fails ACP (after-tax, no match) by a small margin. We use borrowing or shifting to pass the ACP test. We are considering changing the plan in a way that we think will encourage more after tax contributions by HCE's. If the passing margin of the ADP test is not sufficient in the future to cover the ACP test through borrowing or shifting alone, can we recharacterize pre-tax contributions as catch-up contributions to pass both tests, even though the ADP test passes without it?
