Welcome! | Ask A Question
Asked 10/19/2008
|
My employer offers a 401K planand he makes an annual profit sharing contribution to the plan. To be elgible you must work 6 Eligibility is 6 months age 21. I was hired on 6/23/08 and would have worked 6 months 12/23/08 but can't enroll into plan until 1/1/09. The eligible compensation to be used would be my earning from 6.23.08 - 12.23.08 for profit sharing.
|
Answer 1/2 - Submitted 10/19/2008
No, you will not start get any profit sharing for 2008. You are will not start earning the profit sharing until you are actually eligible. And since you are not eligible until 2009, you will not start earning until then, hence you will only get the profit sharing starting in the 2009 pay outs.
Type your Answer in the box below and post your answer.
Related Questions (Ask a New Question)
My family owned employer provided "profit sharing" in the mid 1980's for his employees. in the mid 1990's he started a formal 401k plan. only the employee's that were employed during the "profit sharing" days were still entitled to these accumlated monies. after 22 years,...
My employer was matching my 401k contribution. i recently lost my job. my employer makes there 401k contribution once a year. i make my 401k contribution bi-weekly. my employer advised me i dont qualify for the 2010 contribution. i contributed to my 401k for the 6 months i was employeed in 2010. are...
I begun my employment on sept. 6 2005, according my superior i will be eligible for 401k after one year. but i didnt get application until july 2007. my employer hasnt turn over my personal contribution since my 401k became effective. according usdol they can face fine? how much fine will they have...
|
How long does a company have to give you your profit sharing $$ after termination? My family owned employer provided "profit sharing" in the mid 1980's for his... |
|
My employer was matching my 401k contribution. i recently lost my job. my employer makes there... |
|
My 401k (profit sharing) personal contribution is mia? something smell fishy here! I begun my employment on sept. 6 2005, according my superior i will be eligible for 401k... |
|
Can i take a reduced salary and have my employer make a larger dividend contribution to my 401k? I am considering going back to work for my family business. let's say they are going to... |
|
Employer's 401k plan offers contributions to all employees that enroll in the plan and... |
|
My employer is no longer matching our contributions. all employees are now in a "safe... |
Ask A Question
Ask a new question about
401k:
About
| Contact Us
| Membership Agreement
| Privacy Policy
| Site Map
| Advertise on this Site
Copyright © 401kQuestions.net 2012. All rights reserved.