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Irrevocable election not to participate


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Guest Brad Brewer
Posted

Law Firm has age-based plan. All attorneys except the eldest opted out to keep it efficient. Now, they want a 401(k) plan for all employees. I think the age-based plan will be deemed a CODA if we allow the other attorneys to participate.

Also, they were a partnership when the elections were made, but an LLP now. More reason to disallow participation or irrelevant?

Thoughts anyone?

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BB

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