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Merlo
Merlo, Accountant
Category: Tax
Satisfied Customers: 9783
Experience:  25+ years tax consulting. Specializing in returns for US citizens living abroad
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if an employee was forced to retire because of a directors ...

Resolved Question:

if an employee was forced to retire because of a directors vote,yet still is getting paid under an employment contract, is he still eligible for the company''s 401k plan?
Submitted: 8 years ago.
Category: Tax
Expert:  Merlo replied 8 years ago.

Hello booster,

There are several requirements that must be met before someone can participate in an employer's 401K Plan. One of those requirements is that you must be "actively" employed. If you are currently retired, no matter under what circumstances, then you would not be eligible to participate, even though you are still receiving compensation under your employment contract.

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