Search the Community
Showing results for tags 'safe harbor dollar certain'.
Found 1 result
-
We have a safe harbor plan in which some participants are making dollar amount deferral elections instead of an allocation percentage of comp. Their pay fluctuates each pay period and the employer is submitting a safe match each pay period. However, the employer is not adjusting the match to that period's compensation. The SHM is the same amount each pay period just like the deferral. The plan does not have a true up provision. For those that contribute a dollar amount deferral election, it would appear that they should be receiving the match = to 4% (enhanced and assumed that their deferral => 4% comp) of that periods comp, regardless of the fact that the deferral amount is the same. Am I correct or am I missing something?
