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401(k) Safe Harbor Contributions

Retirement Funding

401(k) Safe Harbor Contributions

•    Suspending Safe Harbor Contributions for Highly Compensated employees only does not defeat the Top-Heavy exemption provided by the Non-Elective 3% Safe Harbor contribution.  Plan must be amended.

•    Notice 2020-52 eliminates required advance 30 day notice for suspension of Safe Harbor non-elective contributions but notice must be provided no later than August 31, 2020.