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Safe harbor rules issued for non-elective contributions

Companies operating at a loss will be able to end or reduce non-elective contributions made to Safe Harbor 401(k) plans midyear.

By Paula Aven Gladych | Updated on November 19, 2013

The Internal Revenue Service has issued its final safe harbor rules for employers facing business hardships.

The agency ruled that companies that operate at a loss can eliminate or reduce non-elective contributions made to Safe Harbor 401(k) plans midyear.

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