dragondon Posted December 8, 2022 Posted December 8, 2022 Can you make is so that employees that were terminated in the year will not receive a QNEC or a QMAC for that year?
Lou S. Posted December 9, 2022 Posted December 9, 2022 Read the document. What you are asking is allowable and should be addressed in your plan document as to who will receive a QNEC/QMAC and how it will be done. Luke Bailey 1
dragondon Posted January 3, 2023 Author Posted January 3, 2023 If they don't receive a QNEC or QMAC then could this not make it pass the ADP or ACP since they were participants during the year?
C. B. Zeller Posted January 3, 2023 Posted January 3, 2023 Are you talking about safe harbor contributions in a safe harbor 401(k) plan, or QNECs/QMACs that are made at the employer's discretion to help pass the ADP or ACP test? Free advice is worth what you paid for it. Do not rely on the information provided in this post for any purpose, including (but not limited to): tax planning, compliance with ERISA or the IRC, investing or other forms of fortune-telling, bird identification, relationship advice, or spiritual guidance. Corey B. Zeller, MSEA, CPC, QPA, QKA Preferred Pension Planning Corp.corey@pppc.co
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