J Simmons Posted March 20, 2021 Posted March 20, 2021 Employee A quit the day before PY 2020 began. It was not until a week into PY 2020 that the company paid A for his unused vacation pay. The plan has a 401k safe harbor 3%-of-pay featyre. Does A accrue 3% on his unused vacation pay paid in 2020? John Simmons johnsimmonslaw@gmail.com Note to Readers: For you, I'm a stranger posting on a bulletin board. Posts here should not be given the same weight as personalized advice from a professional who knows or can learn all the facts of your situation.
RatherBeGolfing Posted March 22, 2021 Posted March 22, 2021 What does the plan doc say? Definition of compensation? Does it allow for post year end comp? Would this have been eligible comp but for his termination (if P used his vacation days in 2020 and then terminated)?
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