"Can a plan have different eligibility dates for a 401(k) and 3% Safe Harbor Contribution, or should they match? I know the eligibility date for a Profit Sharing (or any discretionary contribution) can be different. I just wanted to confirm if the Safe Harbor had to match the 401(k) or not."

" 'The Helping Young Americans Save for Retirement Act is a bipartisan legislation that aims to encourage savings by younger workers in defined contribution plans. The bill would allow employees aged 18 to 20 to contribute to 401(k) and ERISA-covered 403(b) plans after completing one year of service, although employers could exclude them from receiving employer-matching or nonelective contributions.' It's too much. They need to give us a minute!"

"I'm checking the admin software on this which says the person is not key for 2023. 99% of our plans are small with owners/officers being the same and always >5%. But now the top-heavy issue comes into question for a client with a non-owner officer.

Question: For PYE 12/31/2023 the top-heavy determination date is 12/31/2022 and the plan is top heavy as of that date. The employee in question is not an owner or officer in 2022 but became an officer 1/1/2023 (no ownership) and has $250,000 in comp for 2023. I believe this person is non-key for 2023 and needs a top heavy contribution for 2023. This is what our software indicates.

Likewise if someone buys into a company in 2023 at over 5% (is not an officer) they would not be key for the year of their buy-in since the determination date of their status is the last day of the prior year. They would be non-key for 2023 and key for 2024. (They would be HCE for 2023 however.) Comments?"

"When a plan sponsor decides to terminate their 401k retirement plan as per regulation it need to be closed within 12 months from the termination dates however we have seen plan sponsor becoming unresponsive which ultimately leads to Abandoned plan. From a record keeper perceptive what will be challenges to maintain an abandoned plan? also on the regulatory part if any?"

"We have an audited plan that transferred to a PEP last year. The assets transferred May 31, 2023, the PEP considered it a transfer of assets not a plan termination. The auditors are doing a combined audit of 2022 and the for the short plan year period of 1/1/2023-5/31/2023 (when the assets transferred). My question is.... what is the due date of the Form 5500 for the short 2023 plan year?"