Employers May Halt 401(k) / 403(b) Safe Harbor Nonelective Contributions Due to Business Hardship

Employers May Halt 401(k) / 403(b) Safe Harbor Nonelective Contributions Due to Business Hardship

Jun 05, 2009

Article

Brownstein Tax Alert, June 5, 2009

Beginning May 18th, 2009, employers experiencing a substantial business hardship are allowed to reduce or suspend safe harbor nonelective contributions under a 401(k) or 403(b) plan in the middle of the year, according to proposed regulations recently issued by the IRS.

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