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…established on the date it becomes effective for the employer. The timing requirements for eligibility for the contributions credit work in a similar way: The 5-year contributions credit period begins with the first taxable year during which the eligible employer plan is established. The $100,000…

…common inquiry related to excess salary deferrals. The advisor asked: “Why is March 1st an important date with respect to excess deferrals in a 401(k) plan? I thought a participant had until April 15th to correct an excess deferral.” Highlights of the Discussion March 1st…