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Anonymous Posted 16 years ago
Grammar

What does this sentence mean?

The Plan has been amended effective January 1, 2010, to allow forfeitures to first pay plan expenses. Any remaining forfeitures attributable to nonelective contributions will be used to reduce any nonelective contribution.

I assume this is regarding my 401K
  

Top answer

I have absolutely no idea. Ask your human resources/compensation department to put this in human terms for people without a CPA designation. I don't even know what a forfeiture is.

— BarbaraPA

  • I have absolutely no idea.
  • Ask your human resources/compensation department to put this in human terms for people without a CPA designation.
  • I don't even know what a forfeiture is.
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3 Answers
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I have absolutely no idea. Ask your human resources/compensation department to put this in human terms for people without a CPA designation. I don't even know what a forfeiture is.
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The Plan (oh so mighty, secretive, and proper that it needs to be capitalized) has been changed, to take effect in 1/1/10. These changes will allow (someone?) to forfeit the first pay plan expenses....

Ok, as you can see I started to try to decipher the statement... but I got lost, got a couple headaches, and think you should call a lawyer. I lost all seriousness upon reading the last
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I am with the others. I have no idea what it was all about. What kind of plan is it? If you assumed, do you think we would know what you were talking about?
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