ACTIVE PARTICIPANT STATUS
01.Core Concepts
• Limits ability to deduct traditional IRA contributions • Individual is considered an active participant if: • Defined benefit plan Participates or meets the eligibility requirements of the plan • Defined contribution plan or SEP, SIMPLE, or 403(b) plan Receives a contribution to the qualified plan on their behalf for the year, or Defers compensation to a CODA plan • 457 plans do not trigger active participant status