David Posted April 13, 2015 Posted April 13, 2015 I have a plan with a basic safe harbor match. The plan sponsor also does NEC PS contributions. The plan document is a VS doc from a major vendor. The plan is TH.This is a DB/DC combination so the TH minimum is 5%. Can the SH Match be used towards satisfying the 5% TH minimum contribution?
Lou S. Posted April 13, 2015 Posted April 13, 2015 If the document allows the TH minimum to be offset by matching contributions received, yes.
Bill Presson Posted April 16, 2015 Posted April 16, 2015 Assuming it is allowed, this kind of offset generally works well for one year until the employees start talking and one guy brags about how he got the same contribution and didn't have to put any money in. William C. Presson, ERPA, QPA, QKA bill.presson@gmail.com C 205.994.4070
K2retire Posted April 16, 2015 Posted April 16, 2015 Assuming it is allowed, this kind of offset generally works well for one year until the employees start talking and one guy brags about how he got the same contribution and didn't have to put any money in. The guy who believes that 3 percent of pay is going to be enough to live on in retirement?
Bill Presson Posted April 16, 2015 Posted April 16, 2015 Assuming it is allowed, this kind of offset generally works well for one year until the employees start talking and one guy brags about how he got the same contribution and didn't have to put any money in. The guy who believes that 3 percent of pay is going to be enough to live on in retirement? Yep, aka too many participants. William C. Presson, ERPA, QPA, QKA bill.presson@gmail.com C 205.994.4070
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