Regional Vice President of Sales The Retirement Plan Company
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Bates & Company, Inc.
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AimPoint Pension
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Loan & Distribution Specialist AimPoint Pension
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Compass
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New IRS Guidance on Mid-Year Safe Harbor Suspension During COVID-19
Morgan Lewis [Guidance Overview] July 2, 2020 "Notice 2020-52 provides helpful clarification that sponsors can eliminate safe harbor 401(k) contributions for 'highly compensated employees' (HCEs) only and retain the plan's safe harbor status, provided that the safe harbor 401(k) contributions continue to be made for non-highly compensated employees (NHCEs).... [P]erhaps equally important for future years is the IRS's clarification that a plan can maintain its safe harbor status when it is an NHCE-only safe harbor plan, meaning plan sponsors have another tool for cost savings in future years." |
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