IRS on How 401(k) Administration Is Affected by Excess Compensation
When an employee’s compensation exceeds the annual limit, how does that affect 401(k) salary deferrals and what employers and plan administrators have to do? In the March 20, 2012 edition of Employee Plans News, the IRS provides an answer. The IRS says that unless plan terms provide otherwise, the 401(k) salary (elective) deferral limit is […]
