EACA, QACA, ACA Chart
January 31, 2008
EACA |
QACA |
ACA |
|
| Minimum automatic deferral |
None |
3% |
None |
| Maximum automatic deferral |
None |
At least 6%, not to exceed 10% |
None |
| Deferral escalator requirement |
Not applicable |
Yes, (plan may start at 6% to avoid escalator) |
Not applicable |
Employer contribution, matching or nonelective |
Not required |
Required |
Not required |
QDIA rules (first available 12/24/07) |
Mandatory |
Optional, but very likely to be included by Employer |
Optional, but very likely to be included by Employer |
Default investment fiduciary protection |
Yes |
No, unless using a QDIA |
No, unless using a QDIA |
Safe harbor 401(k) provisions |
Optional
|
Required |
Optional |
90 day withdrawal provision |
Yes, though Regs permit employer to exclude from plan options |
No, unless also an EACA |
No, unless also an EACA |
ADP/ACP testing deadline |
6 months after end of plan year |
2 1/2 months after end of plan year, unless using an EACA |
2 1/2 months after end of plan year, unless using and EACA |
First available |
01/01/08 |
01/01/08 |
Late 1990s |