Question: A Profit - Sharing plan with a 4 0 1 ( K ) failed the ADP test. The HCE ADP rate was 1 0 %
A ProfitSharing plan with a K failed the ADP test. The HCE ADP rate was The employer would like to correct the failure by making Qualified NonElective Contributions. Which of the following statements is most accurate?A contribution in an amount that the NHC ADP rate will be will correct the failure. This contribution will only be made to NHC employees who made a deferral.A contribution of $ must be made by the employer to each employee's account. The contribution will vest based on the year graduated schedule.None of these choices.A contribution in an amount that the NHC ADP rate will be will correct the failure. This contribution will be made to all NHC employees.
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