Guest LWilson Posted July 23, 2002 Posted July 23, 2002 I'm not believing my eyes. I have only ever used the Characteristic Code 2K (Line 8a of 5500) if the employer provides a Match. Someone who was unfamiliar with 5500s, and who was asked to review my work said, "But look at the instructions. 2K is also designated for a Plan in which employee contributions are allocated to separate accounts, and this plan does that . . . " Oh my gosh . . . have I been missing something? Should I be coding any 401(k) plan which provides for individual participant accounts the 401(m) code 2K as well?!?
Disco Stu Posted July 23, 2002 Posted July 23, 2002 I believe that the 'employee contributions' referred to in the instructions are after tax contributions. After tax contributions are often referred to in this way, and like matching contributions, they are also tested under 401(m).
Fredman Posted July 24, 2002 Posted July 24, 2002 As much as I hate agreeing with anything to do with "disco", I do agree with Stu's answer.
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