Jump to content

Recommended Posts

Posted

Participant elects to defer 3% of pay in 2015 and employer doesn't implement election fro 10 months. 3% of pay equals $10,000. Employer does applicable notice to employee and deposits $2500 per 2015-28. No match.

Questions: Can employee defer add'l $15,500 ($18,000 less $2500) or are they limited to $8000 (18000-10000). IRS Webinar from a while back seems to say 402g limit is reduced by missed deferrals so i'm thinking participant limited to $8000 but cant find anything really concrete on this.

Also, does the $2500 count as employer contribution in general test. I think not, but again, cant find anything concrete on this.

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...

Important Information

Terms of Use