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- Once-eligible, always-eligible rule and rehires reclassifications of . . .
Does the employee get to participate immediately under the "once-eligible, always eligible" rule? Situation 2 - Reclassification Full-time employee is eligible for the 403 (b) The employee changes from full-time to part time (expected fewer than 20 hrs week)
- can one become ineligible once eligible in 403 (b)?
See "Once In, Always In - Q2" (about 36 minutes in, and be selected directly from indexing list) Once eligible to defer, the future actual hours worked are never taken into account again for deferrals, but can be excluded from employer contributions It also doesn't seem to trigger all less than 20 hour employees to become eligible
- Placing a hold on participants account - BenefitsLink Message Boards
First time poster here I am curious if anyone knows where to find any information about best practices for QDRO procedures related to placing hold on the participant's account Specifically, how long should a participant's account be frozen once the administrator receives notice that a QDRO is f
- Once eligible always eligible rule - 401 (k) Plans - BenefitsLink . . .
Is there any code reference for this "rule" besides break in service and rule of parity? For example, if a participant is eligible for a plan and later becomes part of excludable class – can the participant be forced to stop deferrals? Thanks in advance
- Annual Service Requirement for Mandatory Employee Contributions?
Does the “once in, always in” concept applicable to eligibility for elective deferrals also apply to eligibility for employer contributions, and if so, what is the legal authority requiring such treatment? By way of background, we have a client that is a school (the “School”) that sponsors a 403(
- Excluded Class Employee works 1000 hours - What next?
Once you determined they have the 1,000 hours in the 12 months what is the plan's entry dates? If it is the 1 1, 7 1 following the person doesn't enter the plan until 1 1 2023 and wouldn't get a 2022 contribution
- Full Time to Part Time - 401 (k) Plans - BenefitsLink Message Boards
The first paragraph in WIFBR's follow-up is not dealing with allocation conditions; it is the fail-safe mechanism for ensuring that the service-based excluded class ends at the time prescribed by IRC 410 (a), i e , an employee forever ceases to be able to be a part-time employee (for purposes of the excluded class) once one year of service (for
- Changing from eligible to excluded class - BenefitsLink Message Boards
Once you solve if these people are in an excluded class or not it solves all your questions It might add the problem the plan struggles to pass coverage but that is a future conversation
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