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Namespace Prefixes

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Statements

Subject Item

dbr:Key_employee

rdfs:label

Key employee

rdfs:comment

Key employee, in U.S. Internal Revenue Service (IRS) terminology, is an employee classification used when determining if company-sponsored qualified retirement plans, including 401(a) defined benefit plans and 401(k)s, are considered "top-heavy" or, in other words, weighted towards the company's more highly compensated individuals. A key employee is defined by the IRS as an employee, either living or dead, who meets one of the following three criteria: All other employees are referred to as non-key employees.

dcterms:subject

dbc:Retirement_plans_in_the_United_States dbc:United_States_tax_law

dbo:wikiPageID

50014230

dbo:wikiPageRevisionID

931763705

dbo:wikiPageWikiLink

dbr:Key_person_insurance dbr:Internal_Revenue_Service dbc:Retirement_plans_in_the_United_States dbc:United_States_tax_law dbr:Qualified_retirement_plan dbr:401(k) dbr:Defined_benefit_plan dbr:401(a)

owl:sameAs

yago-res:Key_employee wikidata:Q25005312 n15:2MAY7

dbp:wikiPageUsesTemplate

dbt:Reflist

dbo:abstract

Key employee, in U.S. Internal Revenue Service (IRS) terminology, is an employee classification used when determining if company-sponsored qualified retirement plans, including 401(a) defined benefit plans and 401(k)s, are considered "top-heavy" or, in other words, weighted towards the company's more highly compensated individuals. A key employee is defined by the IRS as an employee, either living or dead, who meets one of the following three criteria: * An officer making over $175,000 in 2018 or $180,000 in 2019 (the income threshold is indexed by the IRS and may increase each year); * A 5% owner of the business (defined as one who either owns more than 5% of the business, or is credited with more than 5% ownership of the business through Family-Attribution Rules), or * An employee owning more than 1% of the business and making over $150,000 for the plan year. All other employees are referred to as non-key employees. There are some similarities between key employees and so-called highly compensated employees (HCE), but the compensation salary threshold is lower for HCEs, at only $120,000 versus $150,000 for key employees.

prov:wasDerivedFrom

wikipedia-en:Key_employee?oldid=931763705&ns=0

dbo:wikiPageLength

2061

foaf:isPrimaryTopicOf

wikipedia-en:Key_employee