"[P]lan sponsors have inquired whether they can reduce safe harbor contributions to their safe harbor plan solely on behalf of highly compensated employees (HCEs) without triggering the mid-year change rules. The Safe Harbor Relief Notice clarifies that the mid-year change rules do not apply for HCEs; however, plan sponsors are still required to timely provide an updated safe harbor notice and an opportunity for the affected HCEs to change their election."  MORE >>