Guest anne1 Posted November 16, 2006 Posted November 16, 2006 An employer did not apply employee deferral elections and is making a corrective contribution to the plan in the form of a QNEC. This won't affect the employee's 402(g) limit for the year will it? Seems like it will be a windfall to employees. Is there a site you can give? Thanks!
Jim Chad Posted November 17, 2006 Posted November 17, 2006 402(g) is only about deferrals. So you are correct. QNECs would not count toward it. The site would be 402(g) of the Internal Revenue Code.
BG5150 Posted November 17, 2006 Posted November 17, 2006 415 might be an issue, tho' QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
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