Audrey Posted May 14, 2024 Posted May 14, 2024 deferral and SH have 1 YOS requirement, and PSC has 2 YOS. a participant is eligible for deferral/SHNEC but ineligible for PSC. should he be included in gateway test and get gateway minimum as he is benefiting SHNEC (an ER contrib)? thanks!
Popular Post C. B. Zeller Posted May 14, 2024 Popular Post Posted May 14, 2024 Yes. Safe harbor non-elective is considered to be the same as profit sharing for 410(b) and 401(a)(4) purposes. acm_acm, Bri, Audrey and 4 others 7 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
Popular Post Bri Posted May 14, 2024 Popular Post Posted May 14, 2024 (and hopefully the plan's document "guarantees gateway" as needed for those with only the SH allocation prescribed) Audrey, Lou S., Bill Presson and 2 others 5
Audrey Posted May 14, 2024 Author Posted May 14, 2024 1 hour ago, C. B. Zeller said: Yes. Safe harbor non-elective is considered to be the same as profit sharing for 410(b) and 401(a)(4) purposes. 37 minutes ago, Bri said: (and hopefully the plan's document "guarantees gateway" as needed for those with only the SH allocation prescribed) Thank you both!
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