401(k) and 457 Plan

[Cathy from Chicago]

We administer a Money Purchase plan. Broker called to say he wants it amended/restated to a 401(k) as he's freezing their 403(b) due to new regs and wants the 4-5 NHCE now participating in the 403(b) to be able to defer in to the 401(k). He also mentioned the only HCE in the workforce has a 457 Plan so wouldn't be deferring. To accomplish what the broker wants, is it as simpe to use a Standard 401(k) document with only 4-5 employees deferring? Can the HCE be eligible and just not participate or should he opt out of the 401(k)? Thanks for any assistance

[John Feldt ERPA CPC QPA]

This question was posted twice.

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