ratherbereading Posted December 20, 2021 Posted December 20, 2021 Plan is a basic safe harbor match - participant receives a $1000 bonus and elects to defer 100% of said bonus. Does he get the sh match as well? Thank you in advance - 4 out of 3 people struggle with math
BG5150 Posted December 20, 2021 Posted December 20, 2021 What does the plan say? QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
ratherbereading Posted December 20, 2021 Author Posted December 20, 2021 12 minutes ago, BG5150 said: What does the plan say? The doc doesn't actually address that. No compensation is excluded. 4 out of 3 people struggle with math
BG5150 Posted December 20, 2021 Posted December 20, 2021 Then the document actually DOES address it. Everyone who deferred 100% gets 4% of their bonus as a SH match. (really, anyone who defers at least 5% of their bonus gets the full match.) Lou S., Bird and Luke Bailey 3 QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
Bill Presson Posted December 20, 2021 Posted December 20, 2021 Make sure you address any end of year "true up" issues as well. Might be additional match required. William C. Presson, ERPA, QPA, QKA bill.presson@gmail.com C 205.994.4070
ratherbereading Posted December 20, 2021 Author Posted December 20, 2021 Thanks, all! It's an enhanced sh match capped at 4%. I said basic match in error! 4 out of 3 people struggle with math
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