Tom Posted February 15, 2023 Posted February 15, 2023 Plan sponsor opened a 401(k) plan effective March 1, 2022 but has been in operation for some years. It is top heavy as of 12/31/2022 and so the first/short 2022 plan year is top heavy. I assume the 3% top heavy minimum is required only on pay from March 1 through December 31?
Lou S. Posted February 15, 2023 Posted February 15, 2023 I would assume so as well, but you know what they say when you assume...so I would read the document on the definition of compensation for top-heavy but I would be surprised if that wasn't the result. Bri 1
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