What does QMAC stand for?

Qualified Matching Contributions (qualified retirement plans)

This definition appears very rarely and is found in the following Acronym Finder categories:

Business, finance, etc.

Other Resources:

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Samples in periodicals archive:

Plan sponsors should review their plans before the end of 2006 to determine whether plan amendments are required in three specific areas: Nondiscrimination testing rules - The regulations limit the use of a targeted "bottom up" method for making qualified nonelective contributions (QNECs) and qualified matching contributions (QMACs) to correct ADP/ACP testing failures.

Year-End Employee Benefits And Executive Compensation Checklist

The proposal clarified that elective contributions, qualified matching contributions (QMACs) and QNECs received in a trustee-to-trustee transfer (other than a direct rollover) from another plan remain subject to the Sec.

Current developments

There are two key areas that key employers should focus on with respect to these regulations: Nondiscrimination testing rules " The regulations clarify that plan sponsors generally may no longer use a targeted "bottom up" method for making qualified nonelective contributions and qualified matching contributions used to correct ADP/ACP testing failures.

Year-End Employee Benefits and Executive Compensation Checklist

In addition, the regulations contain a similar limit on targeted qualified matching contributions ("QMACs").

IRS Issues New 401(k) Guidance in the Form of Comprehensive Proposed ...