Guest Peggy806 Posted March 25, 2009 Posted March 25, 2009 The employer has given 30 days' notice of suspension of the safe harbor match. They said they had heard that "since this was a significant event, the employees have the right to withdraw their money from the 401k." Is that correct?
Below Ground Posted March 25, 2009 Posted March 25, 2009 No. The term you are looking for is "distributable event" which this is definitely not. Significant event, I believe, is related to COBRA and 125 type plans. Regardless, it has no impact here. Having braved the blizzard, I take a moment to contemplate the meaning of life. Should I really be riding in such cold? Why are my goggles covered with a thin layer of ice? Will this effect coverage testing? QPA, QKA
Guest Peggy806 Posted March 25, 2009 Posted March 25, 2009 Is the plan being terminated? No, the plan is not being terminated. I told them the answer was no, but promised I would ask around anyway.
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