NQDC legislation: Can you still move NQDC $ to 401k under tandem election (aka mirror plan)?

[Guest Melanie G]

Does anyone know if the pending NQDC legislation eliminates the ability for participants to make the NQDC/401(k) tandem election under PLR 9530038(Also sometimes called mirror plans)? Is this an in-service withdrawal that is no longer permitted?

Annually, a participant defers into the NQDC plan and elects after adp/acp testing is completed, to transfer to the 401k or receive as a refund, an amount of the NQDC contribution (and match, if applicable) to the 401k plan that would not cause a failing ADP and ACP test.

Participants make the tandem election prior to the beginning of each plan year for deferrals in the upcoming plan year.

Thanks,

Melanie G