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Funding Limits : What Happens When Employees Exceed Them?

What Happens When New Employees Exceed Funding Limits? A new employee who had contributed to the 401k plan at their former employer and their new employer exceeded their contribution limits. Maria Hurd, CPA and ERISA auditor at Belfint, Lyons & Shuman was asked by the new employer what they should do when the employee asked them to refund their contribution.

The new employer wondered whether the refund would affect their testing and whether in fact, they were able to refund the contribution. This situation is quite common as people change jobs frequently. Find out what Maria recommended to her client.

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Financial Wellness Engagement

Financial Wellness Usage Includes the Family

  Financial Wellness usage includes the entire Family.  Financial wellness usage within benefit programs are increasingly becoming more popular.  Upon conclusion of The Plan Sponsor University (TPSU) Fiduciary Education Program held at Baruch College of The City University of New ...