Question: Several employees want to participate in two multi-employer 401(k) plans, but their combined contributions would exceed the Section 415 limitations on overall contributions. Can the employees legally participate in both plans during the same year?
Two 401(k) plans, two Section 415 limitations?
To continue reading this page, become an
HR Specialist Premium Plus member today!
HR Specialist Premium Plus member today!
Your subscription includes:
Ask the Attorney: Answers to your HR legal questions
Compliance Guidance: Access to 7,000 HR news articles, updated daily, sorted by state
State-by-State: Summaries of HR laws in all 50 states
Manager's Training Library: a treasure trove of printable training guides
Memos to Managers for simple staff training
The Hiring Toolkit: Job descriptions, interview questions & exemption tests for 200+ positions
Webinar of the Week: Train instantly with recent recordings
Sample Policies, Weekly Podcasts, Q&As and much, much more ...