Can I set a minimum 7% limit on deferrals?

[TPAJake]

Client wants everyone either "in" for 7% or out at zero, nobody allowed to defer 1, 2,3,4,5 or 6%... Can't say I've ever had anyone ask me that before. Do-able?

Thanks in advance!

[Lou S.]

You can set a default to 7% but I'm pretty sure you have to allow for elections below that.

[GMK]

From what I've read, 7% would be considered a discriminatory factor in favor of the highly compensated. It could be interpreted as being too large a hurdle for lower paid employees and, therefore, a barrier to participation.

Now, if it's a company where everyone makes tons of money, it's probably not an issue.

[TPAJake]

That seems to match most of what I've found & the boss's opinion...Strike 2 I guess. Thanks All!

[QDROphile]

Hooray for your boss on two counts.