RETIREMENT: Break sought for employer 401(k) contributions
An industry group last month asked the government to let certain employers stop making required contributions to employees’ 401(k) plans.
An industry group last month asked the government to let certain employers stop making required contributions to employees’ 401(k) plans. The American Society of Pension Professionals and Actuaries of Arlington, Va., wrote a letter to the Treasury Department and the IRS asking that companies required to contribute 3% to their employees’ plans be allowed to suspend the contribution this year due to economic hardship. For a look at the letter, visit asppa.org/pdf_files/NR_ASPPA_Safe_Harbor_Comments_022009.pdf.
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