Tom Posted June 24 Posted June 24 Client has immediate eligibility for deferrals and safe harbor nonelective. The client allocates profit sharing for those wo meet the 12-month 1000 hour Year of Service requirement as per the plan document. I believe we can exclude from the gateway minimum those who did not meet the Year of Service but are receiving the 3% safe harbor by using the statutory exclusion. And of course they are excluded from 401(a)(4) testing on profit sharing. I know quick entry group must pass top heavy minumum which is not a problem since the safe harbor 3% is funded from date of hire. Thank you.
CuseFan Posted June 24 Posted June 24 You are correct. Kenneth M. Prell, CEBS, ERPA Vice President, BPAS Actuarial & Pension Services kprell@bpas.com
Kac1214 Posted June 25 Posted June 25 If this was not SH, they would not have to 3% for TH any longer, correct?
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