jkharvey Posted March 23, 2001 Posted March 23, 2001 Employer has both a MPPP and PSP. Employer has funded the maximum 30,000 for the owner in the PSP then nothing in the MPPP because of 415 limits. Seems to me they should have funded the MPPP first because of minimum funding requirements then funded any additional in PSP. Is what they did ok?
Guest Jim Hunzelman Posted March 23, 2001 Posted March 23, 2001 I have always done this the way you suggested -- take care of the required funding under 412 first and then put the remainder in the profit sharing plan. If you don't, you will have a funding deficiency in the money purchase plan.
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