Pandemic Spurs Midyear Changes to Retirement Plans
Recruiting Daily Advisor
SEPTEMBER 22, 2020
Source: c-George / iStock / Getty Images. Under the rules governing qualified retirement plans (such as a 401(k) or 403(b) plans), contributions and benefits must not discriminate in favor of highly compensated employees (HCEs). If a plan opts to be a safe harbor plan, however, it’s exempted from annual ACP and ADP testing.
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