Can owners (or other participants) make 401(k) deferrals after they attain age 70.5? Is this a plan document issue; does the document need to allow for this?
Yes, and no. A plan document does not have to explicitly state that a participant over 70 1/2 can defer; a 401(k) plan is not permitted to impose a maximum age on the right to defer. With regard to owners, the same rule applies, although minimum distributions will also be required after age 70 1/2. These are two separate and independent rules; one does not affect the other.
What are the laws concerning household employees and business employees in the same 401(k)...
"I'd like to take this opportunity to wish you guys a happy holiday season. Thank you for being there for me again in 2003. I've learned quite a bit in the five years we've used your service. You are a tremendous resource that has elevated my knowledge."