Bill55 Posted April 3 Posted April 3 Can an ESOP plan allocate shares uniformly to all eligible participants? So for example, 1000 shares will be allocated and there are 20 employees, each gets 50 shares. Thanks
EBECatty Posted April 4 Posted April 4 I think the concept is fine. For testing purposes, this should produce a uniform dollar amount of contribution for all participants, so would meet the safe harbor. Paul I 1
ESOP Guy Posted April 4 Posted April 4 3 minutes ago, EBECatty said: I think the concept is fine. For testing purposes, this should produce a uniform dollar amount of contribution for all participants, so would meet the safe harbor. I agree
JustSayin Posted April 4 Posted April 4 As long as the Plan passes all of the compliance tests and it matches the allocation method in the Plan document, I have seen it done. This wasn't considered an issue when that Plan went through DOL audit.
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