Under Notice 98-52, the rate at which a participant receives matching contributions
was determined by taking into account contributions and compensation for the entire plan year.
Nearly 12 million eligible American workers don't participate in their company's 401(k) plans, or don't invest enough, to take full advantage of free matching contributions
from their employers -- typically 50 cents on every 1 invested.
defined benefit pension plans effective December 31, 2006, and will significantly increase matching contributions
to its defined contribution savings plan beginning January 1, 2007.
Similar testing (average contribution percentage (ACP) test) and corrections were required for employer matching contributions
and employee nondeductible (after-tax) contributions.
Satisfy the nondiscrimination requirements under section 403(b)(12), including a failure to satisfy the nondiscrimination requirements for matching contributions
and to offer the opportunity to make salary reduction contributions universally.
It also encouraged other companies and organizations to join it by providing their own matching contributions
The article mentioned that the company pays more than 90 percent of health-care premiums and offers matching contributions
to 401(k) plans, life insurance, paid family leave, tuition assistance and professional development opportunities.
401(m) matching contributions
and qualified nonelective contributions can be used in determining the non-HCEs' ADP or ACP for nondiscrimination testing.
For example, matching contributions
to a plan for a partner's benefit are considered CODA contributions under the regulations if the partners directly or indirectly allow their contributions to vary.
Alternatively, a check can be sent to the American Red Cross Rural Flood Relief, Monsanto Matching Contributions
The total of incremental wages paid, bonuses, matching contributions
, and a newly established Hurricane Relief Fund amounts to more than $700,000.
40(k) plan providing elective contributions, employee and matching contributions
and nonelective contributions is treated as three separate plans for coverage testing purposes.