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Partner Opts Out of Profit Sharing Piece?


Guest D_NITSCHE

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Guest D_NITSCHE
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We have a partnership with a 401(k) plan; 4 partners and no staff. One of the partners wants cash instead of a share in the partnership's profit sharing contribution;Is this ok? Does the plan have to allow it? Is it irrevocable, if allowed? Any thoughts would be appreciated.

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