jschoolman
Mar 29 2001, 04:49 PM
An employer formally adopted a SARSEP before 12/31/1996; however, no employee contributions were ever funded. Now, there are employees that would like to contribute to the SARSEP. Can the employees do so even though SARSEPs were repealed by SBJPA'96?
Appleby
Apr 5 2001, 05:48 PM
Absolutely
SARSEPS established by 12/31/1996 were grandfathered and are still in effect unless it was terminated
Don J. Smith
Apr 5 2001, 06:36 PM
I'd take caution here. There is a definite argument that since the plan was never funded that it didn't really exist. Personally i'd advise against it. There are better alternatives.
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