Retroactively amending for 4% safe harbor

Plan is failing 2020 ADP.  We were thinking of retroactively amending the plan for 2020 to be a 4% SHNEC, depending on the cost-benefit analysis.  (Plan is TH, too, so it'll probably be worth it.)  We can still exclude HCEs from that, right?

The main question is if we amend for 2020, will that automatically be in effect for 2021, too?  Or do we need to to another amendment for 2021 to be 4% SHNEC?

We will then amend the plan for 2022 to either be SHNEC or SHM, and talk to the owners to see if they want to exempt themselves from the SH.

38 minutes ago, BG5150 said:

Plan is failing 2020 ADP.  We were thinking of retroactively amending the plan for 2020 to be a 4% SHNEC, depending on the cost-benefit analysis.  (Plan is TH, too, so it'll probably be worth it.)  We can still exclude HCEs from that, right?

Yes.

39 minutes ago, BG5150 said:

The main question is if we amend for 2020, will that automatically be in effect for 2021, too?  Or do we need to to another amendment for 2021 to be 4% SHNEC?

Depends how you write the amendment. At this point you could still do a 3% SHNEC for 2021.

Thanks