Jakyasar Posted January 12, 2022 Posted January 12, 2022 Hi It has been a long time since I came across this as all my plans are done on volume submitter. Somewhere in the corners of my old memory I remember that if DC plan is done as standardized prototype and if the DB plan is done a volume submitter, it was not permitted to be set up this way. Only standardized plans can be set paired?? What am I not remembering here? Thank you
C. B. Zeller Posted January 12, 2022 Posted January 12, 2022 A standardized plan probably won't allow for the DB top heavy minimum to be provided in the DC plan. If the only participants are the owners - since I really hope they're not using a standardized document if they have employees - then it probably isn't a big deal since there would be nobody eligible for a top heavy minimum anyway. Regardless I would restate the plan onto a nonstandardized document asap. Luke Bailey 1 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
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now