"Looking for ERISA attoney specializing in public sector reference, Oregon. You can DM if you prefer."

"Existing 401k plan with SH and PS. PS allocation requirement is: Either employed on the last day or accrue 500 hours of service. Plan sponsor wants to exclude bonuses for 2024 for all purposes. Can it be done now or has to be tested for participant who fall on either allocation requirement?"

"Traditional money purchase pension plan covers collectively bargained employees. A group would like to allow a back door CODA by allowing participants to make negative elections. For example, the default contribution rate may be $10 per hour worked, but an employee has an annual options to elect to defer only $5 per hour and take the rest as wages. I'm sure I've seen IRS guidance stating a 'negative election' of this type is an impermissible CODA, but cannot find it now."