The 401(k) and (m) Regulations Enter the 21st Century

Topics:
Compensation Guide,
Financial Regulations
Tags:
401(k) Plan,
Government,
Regulations,
Safe Harbor
Source:
Morgan, Lewis & Bockius

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Overview: Comprehensive regulations under Sections 401(k) and (m) of the Code were finalized in 1991 and amended in 1994. These regulations had not been updated since 1994. Among the changes were the introduction of safe harbor alternatives to the actual deferral percentage (ADP) and actual contribution percentage (ACP) tests, catch-up contributions for older participants, increases in salary deferral limits and accelerated vesting of matching contributions. While the final regulations retain much of the substance of the proposed regulations issued in July 2003, certain important changes and clarifications were made. The paper summarizes certain of these changes and clarifications.

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Format: PDF | Size: 59KB | Date: Jul 2005 | Pages: 9

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