Guest jetfaninmn Posted October 31, 2005 Posted October 31, 2005 A company has a discretionary match formula that it makes by the contribution due date (with extension)each year - no payroll to payroll match. This year, they made a verbal comittment at an employee meeting (all employees) that they would be making a match based on the profitabilty of the company, but never put anything in writing. Are they committed to that contribution and is there a specific code that addresses this. They are on the verge of bankruptcy? No corporate taxes have been filed.
WDIK Posted October 31, 2005 Posted October 31, 2005 they would be making a match based on the profitabilty of the company...They are on the verge of bankruptcy It doesn't seem like they were very profitiable, so to what are they committed? ...but then again, What Do I Know?
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