Guest mad Posted July 6, 2004 Posted July 6, 2004 I have doctor with a 401(K) plan and she employs other doctors and non doctors who earn W-2 income. She wants to reclassify the employees as contract employees non-W-2. Can the contract employees still be part of the plan or should she term the plan?
david rigby Posted July 6, 2004 Posted July 6, 2004 Isn't the first question whether the employer can unilaterally change an employment relationship to "contract"? 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.
alanm Posted August 4, 2004 Posted August 4, 2004 Unless the Docs work for mutlple medical organizations, reclassifying usually doesn't work. The main reason they try to do the contract worker thing is so they can have individual retirement and comprehensive medical insurance and exclude the nondocs.
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