Regulations Issued For Midyear Reductions To 401(k) Plans

  • BGSS & Co
  • Regulations Issued For Midyear Reductions To 401(k) Plans
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  • News
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  • November 15, 2013
“The IRS issued final regulations that permit employers to make midyear reductions or suspensions of safe-harbor matching or nonelective contributions to retirement plans in certain situations. Proposed regulations were issued on May 18, 2009, permitting a midyear reduction or suspension of nonelective contributions if the employer incurred a substantial business hardship.”

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