12AX7 Posted July 25, 2011 Posted July 25, 2011 Traditional 401 (k) Plan. Is it possible to add a comp exclusion mid-year? The participants would have the ability to change their deferral elections, but the client doesn't want to bother with the process of collecting enrollment changes. Can this be done? Thanks.
david rigby Posted July 25, 2011 Posted July 25, 2011 ...a comp exclusion ... Just for clarity, please add some more flesh to this skeleton. I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
12AX7 Posted July 25, 2011 Author Posted July 25, 2011 My bad as I'm usually more detailed. The client wants to exclude bonuses, so it's not a SH definition under 414(s). I normally would know the answer as this applies for employer contributions, but with salary deferrals, would the employer have the right to take away future deferrals without a participant's change in election?
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