Jump to content

403(b) Plan Hours of Service


Guest matt2800

Recommended Posts

Guest matt2800

I am curious how people are counting hours of service for colleges specifically. Example:A plan requires a year of service for match (or even it requires 6 months of service for match and I want to determine who is otherwise excludable for ACP).

If I have numerous adjunct faculty who are being paid a $3,000 salary per 3 credit class, how do you determine the number of hours that employee should be creditied with for each class they teach? Many colleges use formulas such as 3 hours of prep time for each credit but these are merely standards they use to determine eligibility for other benefits they provide such as insurance.

I find nothing in the Regs stating that you are permitted to use an alternative approach for counting hours so all there is to fall back on are the DOL equivalency methods such as 45 hours for each week they perform an hour of service.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...