Source: https://retirementlc.com/401k-nonqualified-deferred-compensation-plans/print/
Timestamp: 2019-11-21 20:08:28
Document Index: 704669431

Matched Legal Cases: ['§408', '§ 408', '§ 403', '§457', '§403', '§409', '§409']

Retirement Learning Center 401(k) and Nonqualified Deferred Compensation plans | Retirement Learning Center
Posted By retirementlcuser On November 14, 2016 @ 2:06 am In Case of the Week | No Comments
You are correct; 401(k) excess contributions are not eligible to be rolled over to an “eligible retirement plan” pursuant to Internal Revenue Code Section (IRC §) 402(c)(8)(b) [1]. The term eligible retirement plan is defined as an individual retirement account under IRC §408(a); an individual retirement annuity under IRC § 408(b); a qualified trust; a qualified annuity plan under IRC § 403(a); a governmental plan under IRC §457(b); and an IRC §403(b) plan.
However, it is possible that, in addition to the 401(k) plan, your client’s employer maintains a plan that is not an eligible retirement plan, such as a nonqualified deferred compensation plan (NQDC) under IRC §409A [2].
URL to article: https://retirementlc.com/401k-nonqualified-deferred-compensation-plans/
[1] 402(c)(8)(b): https://www.law.cornell.edu/uscode/text/26/402
[2] IRC §409A: https://www.law.cornell.edu/uscode/text/26/409A