Guest JimJ Posted November 29, 2001 Posted November 29, 2001 two plans, one for hourly ee's and one for salary ee's. both currently exclude hce's. company is debating letting hce's in 2002. can the plan use the average deferral % for the nhce's for 2001 to determine what the hce's can defer in 2002. no testing in the past because no hce's. thanks for any help on this one. jimj
Alonzo Posted November 30, 2001 Posted November 30, 2001 1. Does plan have testing language in it? 2. Is the Plan individually designed? 3. If so, has the plan been submitted for its GUST letter? If the answer to either 1, 2 or 3 is no, you can probably do what you want to do. (Just add the requisite amendment to the Plan). If the answer to all three questions is yes, and the plan designates the current year method as the 401k method of choice, I do not know how you could accomplish what you want to accomplish.
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