The top heavy rules allow an employer to elect to perform top heavy testing by combining multiple plans if certain conditions are met. If an employer has both a union plan and a non-union plan, under certain circumstances, the plans may be permissively aggregated for top-heavy testing if the union and non-union plans provide comparable benefits.
Subject to limits on self-employed individuals and owner-employees, Nova believes that employer contributions made during the PPP window are forgivable. This would appear to apply to a wide variety of employer retirement contributions including matching, profit sharing, defined benefit and cash balance contributions. It is also possible this would apply to both the 2019 and … Read more