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BenefitsLink® Message Boards Digest

December 5, 2023

Here are the most recently added topics on the BenefitsLink® Message Boards

Vlad401k created a topic in 401(k) Plans

Top Heavy Test: Possible to Exclude HCE?

"We have a new plan with 2 participants. One of the participants is a 100% owner. The other one is an HCE. There have been no contributions funded to the plan so far. The owner would like to fund at least 3% to herself. Would it be possible to exclude the non-owner HCE (by division, for example) and not have to fund the 3% Top Heavy Minimum to this participant? Or would the excluded HCE still be counted in the Top Heavy Test and therefore would have to receive the 3% minimum?"

4 replies so far   |    Click Here to Add a Reply
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Pammie57 created a topic in 401(k) Plans

Safe Harbor 3% for HCEs

"I took over a plan where the safe harbor contributions was not made for an employee who left June 2021. They were a HCE and made over $250,000 for that six months in 2021. The safe harbor contribution was never funded for them and is still showing as an $11,000 receivable. The primary question is do they have to make it? He was not an owner."

5 replies so far   |    Click Here to Add a Reply
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