ratherbereading Posted March 8, 2021 Posted March 8, 2021 Have a plan that failed the adp acp test. Participant is 60% vested. Relius is showing Allocable Income on the ACP correction. Is it 60% of the Refund Amount that is forfeited? How does the Allocable Income come into play then? 4 out of 3 people struggle with math
Lou S. Posted March 8, 2021 Posted March 8, 2021 Apply the vesting to the correction. 60% of the correction plus allocable income is refunded as excess aggregate contribution and 40% of the correction plus allocable income is forfeited to the Plan. Luke Bailey 1
ratherbereading Posted March 9, 2021 Author Posted March 9, 2021 16 hours ago, Lou S. said: Apply the vesting to the correction. 60% of the correction plus allocable income is refunded as excess aggregate contribution and 40% of the correction plus allocable income is forfeited to the Plan. Thank you! 4 out of 3 people struggle with math
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