Log In Box

Category:

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.

FAQ - Quote Module

MEP with 7 companies participating. 3 control groups exist within the 7 companies and one ...

Free Email Newsletter

 

The CCH® NetNews™ Newsletter has long been the leading authority on legal and compliance information. Now you can get a weekly summary of court decisions, government news and much more delivered to your inbox.

Learn More | Sign Up

Testimonials

Uniglobal Pension Planning

"TAG has been an invaluable resource and I will gladly recommend them to anyone in the industry. The amount of time saved performing research has benefited not only myself, but my clients as well. The news updates, the articles and Q&A section have been extremely useful in providing quick answers to tough questions."