IRS revises defined contribution and CODA LRMs for master and prototype plans
Article Abstract:
The IRS has issued revisions of list of required modifications (LRMs) for master and prototype defined contribution plans, as well as revisions of LRMs for 401(k) cash or deferred arrangements (CODAs). The CODA LRMs deal with the distribution of excess elective deferrals of employees. Participants must be able to notify plan administrators of excess elective deferrals, and these deferrals must be distributed, along with any additional earnings. A new method for computing the annual compensation limit also has been added.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
Tapping the "K" - loans and hardship distributions from section 401(k) plans
Article Abstract:
Employers must consider the administrative and tax costs of including asset access for employees in their 401(k) plans. Availability of funds through loan and hardship distribution mechanisms is a positive incentive for employees. The need for and scope of access should be predetermined after a careful review of tax law and procedure.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1998
User Contributions:
Comment about this article or add new information about this topic: