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Posted

Plan Sponsor maintains a Safe Harbor 401(k) Plan with Basic Safe Harbor Match.  Safe Harbor match is calculated annually per plan document.

Plan Sponsor would like to calculate safe harbor match for the period covered under the PPP Loan which they received.

Should this safe harbor match be calculated for the PPP period and can it be allocated to the participant's directed account at their asset custodian?

Posted

Unless the plan has specific provisions saying the match is deposited after the end of the year, which is doubtful, then I see no problem with calculating and making deposits based on whatever period you want and then effectively truing up at or after the end of the year.

Ed Snyder

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