catch ups and non calendar year plan year

[Guest mkelly]

Facts:

Plan Year 9/1/02 to 8/31/03

Catch up contribs available beginning 10/1/02 to partics over 50 and deferring the 15% plan limit or meeting the 402(g) Limit

What is the maximum Catch up an eligible participant can have for the PLAN YEAR? $2000 (the 2003 catch up limit)?

$3000 ( the 2001 catch up limit + the 2003 catch up limit)?

As of 1/1 how do you determine if any catch up has to be recharterized as regular elective deferral? Or do you wait until the Plan Year end?

[kocak]

I put together a chart we used in a training session earlier this year, because we were getting so many off-calendar year catch-up questions. I would be happy to email it to you for your review and comment.

In order to answer your question, I think we need to know their deferrals from 1/1/02-8/31/02, their compensation for each period ( for the 15% limit).

Why is the plan catch-up available 10/1 but the plan year is 8/31?

mck

[Guest mkelly]

Thanks,

I just emailed you my email address...that would be great if you could email a chart.

[Mike Preston]

kocak, would you mind posting it for download by all?

[kocak]

Attached is the file (I think!) Please comment and send any modification ideas to me. My email is kocak@msn.com. Thanks for the input.

Michele Kocak