FJR Posted September 14, 2002 Posted September 14, 2002 Anyone want to run down the compliance testing limits under new tax law for their 9/30/02 plans. Might be a good refresher for everyone. Annual Compensation limit ? 415© Annual Additons ? HCE Threshold ? 404 (a) (3) Deductibility of Contributions ? i.e. 25% Catch-up availability ? Assume plan is amended for GUST/EGTRRA:)
Tom Poje Posted September 16, 2002 Posted September 16, 2002 Most EGTRRA stuff is for plan years beginning 1/1/02. Catch-ups are an exception, as they pertain to tax years beginning in 02 Annual Compensation limit ? 170,000 415© Annual Additons ? 35,000 HCE Threshold ? 85,000 404 (a) (3) Deductibility of Contributions ? i.e. 25% 15% Catch-up availability ? yes, see previous threads for calculation of such amounts on a non calendar year basis
FJR Posted September 17, 2002 Author Posted September 17, 2002 Doesn't it depend on what the definition for the "limitation year" is to determine 415? What if the limitation year is defined as the calendar year ending within current plan year. So if the plan year ends 9/30/02 wouldn't the 415 limit be 40,000?
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