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Dougsbpc created a topic in 401(k) Plans
"Suppose you have a profit sharing plan that covers 15 participants and has for over 10 years. They would like to add a 401(k) provision 8/1/2026 and make the plan Safe Harbor NEC for 2026. I would think that since the profit sharing plan has been active since before 1/1/2026, the overall 415 limit for the 401(k) profit sharing plan would be $72,000 for 2026. Question: all participants will be under age 50. Since all participants
will only be able to start funding salary deferrals on 8/1/2026, must the salary deferral limit be limited to 5/12ths of $24,500 or $10,208? Or could they fund the entire $24,500? And I would think salary deferrals, the 3% SNEC and Profit Sharing contributions to the participant would be based on full year compensation and subject to the overall $72,000 415 limit. Does anyone see this differently?"
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thepensionmaven created a topic in Retirement Plans in General
"As an ERPA, I am representing a client with a SHNE 401(k), no PS. The auditor is looking for a SHNE 30 day notice. I believe the notice is no longer needed, the audit is for 2023. Does anyone have a cite for this?"
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ratherbereading created a topic in 401(k) Plans
"Current 401k / SH / PS plan splitting into 2 plans. One plan covers the 1 owner and other plan covers the 1 NHCE. Will the plan(s) be more likely to be audited because one 5500 is an EZ now and the participant NHCE plan is a 5500-SF?"
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