jkharvey Posted May 9, 2023 Posted May 9, 2023 The 401k/PS plan has 1 year of service eligibility. Two NHCEs were allowed to defer before meeting the requirement. The plan is going to be amended to allow them to make deferrals but they will not be eligible for PS contributions. Are they required to receive the 5% minimum gateway (Plan is cross tested)? Thanks
CuseFan Posted May 9, 2023 Posted May 9, 2023 No, they are not benefitting under the 401(a) section of the plan. BUT, if the plan is top heavy then they must get 3% TH - but still otherwise excluded so no gateway. Kenneth M. Prell, CEBS, ERPA Vice President, BPAS Actuarial & Pension Services kprell@bpas.com
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