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harold

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  1. harold

    Deferral Limits

    Plan is set up as w/ year end of 3/31. It's a non-account balance plan to which er makes deferrals on behalf of participants at plan year end. For deferrals made in 2005 on 3/31, my understanding is that the deferral limit is $14,000 (the 2005 limit) b/c it is keyed off of the participant's tax year, not the plan's year. In other words, just b/c the plan's tax year began in 2004 does not mean that the 2004 deferral limit would apply to deferrals made at end of fiscal plan year in early 2005, right?
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