Jump to content

Recommended Posts

Posted

Client set up a Safe harbor 401 (k) Plan effective 3/1/2019.  They initially wanted a 3 month eligibility with entry dates monthly-following.  Now we are in June, and they are wanting to amend their document to say only 60 days  wait - (to agree with the wait for health benefits with their company).  No one so far has been made to wait 3 months to start deferring.  Thoughts?? Any IRS problems that they could run into?

Posted

I believe expanding/liberalizing eligibility is one of the permissible mid-year amendments for safe harbor plans.

Kenneth M. Prell, CEBS, ERPA

Vice President, BPAS Actuarial & Pension Services

kprell@bpas.com

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