401k elections with k-1

[mehmgo]

Have a plan that has partners in it that receive k-1's for compensation for the year. If the plan has 401k contribution changes allowable only on a calendar quarterly basis, are the partners who receive the k-1 tied to the same frequency for changes?

[QDROphile]

Plans are required to operate in accordance with their terms. Plans that cover the self employed as well as employees often have special terms to take advantage of the special rules for self employment income, especially the ability of the self employed to elect before December 31 with respect to all income. Without special terms in the plan, special treatment of the self employed is not allowed.