BG5150 Posted May 6, 2008 Posted May 6, 2008 I have a plan in which an HCE had a $15,500 deferral. The plan failed, and he received a $5,500 refund. How much can his PS be for 2007? Is it $29,500 (using the $15,500 of deferrals) or is it $35,000 since there were a "net" $10,000 in deferrals? (Assuming all the other tests will pass) QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
BG5150 Posted May 9, 2008 Author Posted May 9, 2008 Found the answer: Excess deferrals, contributions, aggregate contributions are includable as annual additions. So it would be $29,500 QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
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