Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What happens if a client hires employees who will be eligible to participate?

April 26, 2017client eligible employees happens hires participate

0

Posted

What happens if a client hires employees who will be eligible to participate?

1 Answer

0

Posted

The employer would no longer be eligible for the SBO 401k. Benefit Plans Plus can do a plan design for the client and create a new service agreement. The cost associated with the plan would increase due to additional testing and filing requirements.