Table when withheld participant contributions become plan assets
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- Build a table of the rule: the kind of amount, the plan size at the start of the year, and the date the regulation uses. Do not fill it with one employer's payroll.
- What the lawyer must review
- 29 C.F.R. § 2510.3-102 applies to amounts a participant or beneficiary pays to an employer, or that the employer withholds from wages, for contribution or repayment of a participant loan. Those amounts become plan assets on the earliest date they can reasonably be segregated from the employer's general assets. The outside date for an employee pension benefit plan is the 15th business day of the month after the month of receipt or of the cash-pay date. A SIMPLE IRA plan uses the 30th calendar day after that month. A plan with fewer than 100 participants at the beginning of the plan year may use the 7th business day as a safe harbour. The safe harbour is optional and is not the exclusive method. A business day excludes Saturday, Sunday and a federal holiday. The welfare-plan period of 90 days is a different rule. This regulation does not set the due date of the employer's own contribution. You apply it to the plan in front of you.
- Written for / version
- United States versionUS
Who does what
| Role | What they do |
|---|---|
| Assistance | Consider narrowly defined preparation support after confirming the tool’s capability and permitted scope. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Trace every relied-on figure to its source, confirm dates and assumptions, and independently recalculate totals or derived amounts.
- Verify the applicable jurisdiction and the version of each relevant law, rule or instrument in force at the material time.
- Confirm the output against the client’s instructions and the complete relevant source material, including omissions or contradictions.
- Resolve exceptions and record the responsible lawyer’s approval of the exact output and intended use.