Discover the ins and outs of 401(k) plan forfeitures – when and how to leverage them effectively. Uncover the key insights for smart financial planning.
An Explanation of 401(k) Plan Forfeitures, How and When They Should be Used
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Plan Forfeitures
Plan Forfeitures and Safe Harbor Contributions
Your retirement plan was recently restated for the Pension Protection Act (PPA). Within the PPA restatement, IRS mandated that forfeitures could no longer be used to reduce safe harbor contributions (i.e. basic safe harbor match, enhanced match or 3% nonelective). On...