FJR Posted August 7, 2001 Posted August 7, 2001 Is it possible to have a plan that has no key employees. I have a non-profit org. that is sponsoring a 401(k) but has no owners or officers. It is made up of a board of directors who are non paid and won't be in the plan. So, for top heavy issues could you not have any key ee's in the plan and avoid being top heavy all together?
R. Butler Posted August 7, 2001 Posted August 7, 2001 Yes. It is possible to have a plan without any key employees.
david rigby Posted August 7, 2001 Posted August 7, 2001 Also possible to have a plan with only Key EEs. I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
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