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Elephanthead posted:I don't think you can have employee contributions be mandatory. It must be the non discretionary employer match that you are calling the employee contribution. I don't think employee contributions ever need to vest either. I assume you requested the plan document? i believe it can be "mandatory" but the employee may opt out. I assume why this is considered "mandatory" is because the employee is not free to change their elections during the year? either way it sounds super sketchy. http://corporate.findlaw.com/corporate-governance/irs-approves-mandatory-401-k-contributions-if-appropriate.html
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Apr 20, 2015 19:08
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baquerd posted:It's technically benefit overflow money. The way this works is that the employee gets a certain amount of benefit money. They then pay for insurance, pre-tax transit, etc. out of this money. Whatever is left, gets put in the 401k, and we've been told there's no way to opt out of this. ok -- so the dollars going to the 401k are in excess of the actual salary? that sounds a lot more reasonable, then. (those fees are still ridiculous though)
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Apr 20, 2015 20:08
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