Adoption Agreement Flashcards
1
Q
Adoption Agreement
A
The Plan Document that specifies each 401(k) Plan’s Rules and Regulations as determined by the Plan Administrator
2
Q
Eligibility
A
The rules within the Adoption agreement that tells us the rules in which a person would be eligible to participate in the plan
3
Q
Employee
A
anyone employed with an origanization
4
Q
Participant
A
an Employee of an organization who decides to defer into the 401(K) Plan
5
Q
Deferrals
A
Money taken out of your paycheck to be deposited into your 401(k) Plan
6
Q
Safe Harbor
A
A plan election that requires the employer to match their employees up to a certain amount and
