pmacduff Posted January 26, 2018 Posted January 26, 2018 Plan amended as of 07/01/2017 to exclude per diem employees. Plan is top heavy. Must per diems who were participants until 07/01 receive a top heavy contribution for 2017?
Madison71 Posted January 27, 2018 Posted January 27, 2018 I believe there is no clear guidance on this and there are different thoughts. One is that because they are not eligible at the end of the year, they are not required to receive a top heavy contribution. The other (which is what I think is correct) is that the former participants are entitled to a contribution because they were participants during the year and are still employed at year end. They are also entitled to contribution on full year of comp under 415 as well
Larry Starr Posted January 30, 2018 Posted January 30, 2018 Agree with Madison's belief of the correct answer. He gets the TH minimum and for his entire compensation for the year. Lawrence C. Starr, FLMI, CLU, CEBS, CPC, ChFC, EA, ATA, QPFC President Qualified Plan Consultants, Inc. 46 Daggett Drive West Springfield, MA 01089 413-736-2066 larrystarr@qpc-inc.com
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