legort69 Posted September 6, 2019 Posted September 6, 2019 A sponsor is required to fund a safe harbor match for 2018. They changed their formula from basic to 200% of 5% in 2018, however they only funded the basic amount. They are now saying that they can't afford to fund the SH match for the difference between the basic and the updated formula. What would be the consequences for not funding the full amount which was included in their safe harbor notices?
Lou S. Posted September 6, 2019 Posted September 6, 2019 What are the consequences of not following the terms of the Plan document? rr_sphr 1
Larry Starr Posted September 6, 2019 Posted September 6, 2019 In addition, the employees have an enforceable legal right to the additional funds. rr_sphr 1 Lawrence C. Starr, FLMI, CLU, CEBS, CPC, ChFC, EA, ATA, QPFC President Qualified Plan Consultants, Inc. 46 Daggett Drive West Springfield, MA 01089 413-736-2066 larrystarr@qpc-inc.com
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