Ten major required testing areas for section 401(k) plans - selected administration issues
Article Abstract:
Employee benefits practicioners will have to properly analyze Section 401(k) savings plans of the Internal Revenue Code. There is a need to differentiate between all of the provisions and limitations of the ten major required testing areas, which include: minimum participation, minimum coverage, nondiscrimination with contributions and benefits, top-heavy plans, excess deferral, annual additions limitations, employer deduction, actual deferral percentages, actual contribution percentages and alternate limit testing.
Publication Name: Benefits Quarterly
Subject: Human resources and labor relations
ISSN: 8756-1263
Year: 1992
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Final participant-directed regulations under ERISA Section 404(c)
Article Abstract:
The Employment Retirement Income Security Act (ERISA) section 404(c) eliminates the liability of plan sponsors or other plan trustees regarding plan participants' investment decisions when the latter's account is self-managed. This protection will be valuable to plan sponsors since their control over the investment plan decreases when participants take over. This flexibility is offset by the uncertainty of compliance of the ERISA provision but sponsors still need to ensure that plans do comply with the law.
Publication Name: Benefits Quarterly
Subject: Human resources and labor relations
ISSN: 8756-1263
Year: 1993
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Final 401(k) and 401(m) regulations
Article Abstract:
The Internal Revenue Service issued Final 401(k) and 401(m) Regulations for plans with cash or deferred arrangements and after tax contributions. These features have made these plans well-known with both employers and employees as retirement and savings programs. At present, there have been suggestions for simplified 401(k) plans as well as the removal of actual deferral percentage test.
Publication Name: Benefits Quarterly
Subject: Human resources and labor relations
ISSN: 8756-1263
Year: 1992
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