Suspension Letter

[Guest newport]

I have a client with a discretionary employer match. Is there a sample letter available that I can give them to send to the participants if they elect to not exercise the match next year? Please PM me if you would prefer not to post in the forum...

Thanks in advance

[Guest anna1226]

Can anyone help me get a Sample Amendment to suspend 401(k) Safe harbor Basic Formula.

Sample 401(k) Safe Harbor Match

[Kevin C]

What kind of document does the plan use? If it is a pre-approved document, you will need to amend either by modifying the choices on the adoption agreement or in a traditional VS document by substituting other pre-approved language. I don't think someone else's amendment will do you much good. If it is individually designed, the attorney should prepare the amendment.

For a calendar year plan, suspending the SH match won't save much. With the required 30 day advanced notice to participants and the SH contribution required through the effective date, there is not much of the year left to save on the contribution. The rules for suspending the SH match during the year are in 1.401(k)-3(g).