Business, Legal & Accounting Glossary
A test used to determine whether company contributions to a 401K retirement plan favor highly compensated employees. The purpose of the test is to determine whether all participants are benefiting equally from the plan. If a plan fails the test, it will no longer be considered a qualified plan by the IRS.
ACP Test
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This glossary post was last updated: 19th November, 2021 | 0 Views.