eilano Posted January 25, 2003 Posted January 25, 2003 A client of ours would like to adopt the EGTRRA amendment but limit compensation for allocations to $170,000. Could they adopt EGTRRA and then do an amendment to limit the compensation to $170,000? Also, for deduction purposes, could an amendment be adopted to limit compensation to $170,000?
david rigby Posted January 25, 2003 Posted January 25, 2003 "...the EGTRRA amendment..."? Sounds like you want to adopt certain of the voluntary provisions of EGTRRA (increase to DC contribution limits ?) but not others (comp limit). That is permitted. I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
Blinky the 3-eyed Fish Posted January 27, 2003 Posted January 27, 2003 You don't say what type of plan it is for. If it is a DC plan you are amending, watch that you are not cutting back a protected allocation. "What's in the big salad?" "Big lettuce, big carrots, tomatoes like volleyballs."
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