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Company pension plans

If your company provides a retirement plan such as a 401(k), 403(b), Simplified Employee Pension (SEP), or SIMPLE plan, your employees are considered covered by the plan even if they are not active participants in it.

There are only few cases when an employee is not covered by a company pension plan (for example, an employee or employee's spouse who is not covered for part of the year, Social Security or railroad retirement, reservists, and volunteer firefighters). Check with your accountant or refer to IRS Publication 590, Individual Retirement Arrangements (IRAs), for more information.

KB ID# H_PAY_PREF_EMP_DEFAULT_COMPANY_PENSIONPLAN
9/29/2016 4:48:41 PM
PPRDQSSWS403 9138 Pro 2017 11bc3e