Guest dll Posted January 13, 2003 Posted January 13, 2003 I remember reading something recently regarding the IRS not being too happy about using the bottom up QNEC but I can't put my hands on it. Anyone know where I can find this info?
Mike Preston Posted January 13, 2003 Posted January 13, 2003 I think it was in connection to the fact that EGTRRA changed the limit on DC annual additions to 100% of pay. In a bottom up QNEC situation, you end up giving 4 times as much as you would have under the old rules where the limit was 25% of pay to the lowest paid individual. The guidance we will get will be with respect to implementation of EGTRRA. Look for it sometime in 2006 or 2007. ;-)
Kirk Maldonado Posted January 13, 2003 Posted January 13, 2003 The legislative history to EGTRRA instructs the IRS to promulgate guidance cutting back on bottoms-up QNECs. Kirk Maldonado
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now