Scuba 401 Posted February 10, 2021 Posted February 10, 2021 so SECURE act eliminated the notice requirement for SHNE plans. our plan document requires a plan amendment. does the amendment need to be done if they are making the contribution and can it be adopted by March 15? edit: well the plan document says needs to be adopted 30 days before the end of the plan year.
Bill Presson Posted February 10, 2021 Posted February 10, 2021 SECURE act allows a 401(k) to choose to be a safe harbor plan until the end of the year following the year that you want. So 12/31/21 for 2020 year. Hopefully your document wouldn't override that. Luke Bailey 1 William C. Presson, ERPA, QPA, QKA bill.presson@gmail.com C 205.994.4070
Scuba 401 Posted February 11, 2021 Author Posted February 11, 2021 that is interesting. might need an interim amendment for that as our cycle 3 document was probably already in review.
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