Roth 401(k) Contributions, Safe Harbor 401(k) Plans, and Automatic Enrollment WebinarAmy Pocino Kelly
Q: Can I make additional contributions to a safe harbor 401(k) plan? A: Yes, you can make additional profit-sharing contributions or discretionary matching contributions in addition to the required Safe Harbor contributions. These additional contributions may be subject to vesting schedules and compl...
Employee after-tax (non-Roth) contributions are made during the year. If your plan is subject to top-heavy testing and it is determined to be top-heavy, all employer contributions made during the plan year, including safe harbor contributions, will count towards satisfying the top-heavy minimum...
When it comes to saving for retirement, 401(k) plans are a popular choice for both employers and employees. However, not all 401(k) plans are the same. Employers can choose between a traditional 401(k) plan and a Safe Harbor 401(k) plan, each offering un
A safe harbor 401(k) is a retirement plan that allows a company to avoid the regulations and expenses associated with nondiscrimination tests typically required of a 401(k) or other retirement account. A safe harbor 401(k) can simplify the process for a company looking to roll out a retirem...
The structures are basic matching, enhanced matching, and non-elective contribution. It is suitable for the company to adopt a safe harbor 401(k) if they fall under the category of five primary reasons. With the safe harbor 401(k) plan, the company can look forward to tax savings and ret...
Safe Harbor plans essentially get a “free pass” when it comes to most IRS nondiscrimination tests. Simplified administration These plans are generally low maintenance and can offer maximized savings without intricate processes or tons of paperwork. ...
Patient Protection and Affordable Care Act (ACA, Obamacare)Health Savings Accounts (HSA)Retirement PlansQualified Retirement PlansTypes of Retirement Plans: Traditional and Roth IRAs, SIMPLE IRAs, SIMPLE 401(k)s, Simplified Employee Pensions; Safe Harbor 401(k)s, Traditional and Roth 401(k)s, Pr...
A safe harbor 401(k) is a type of a 401(k) retirement plan that is often used by small businesses because it is not burdened by many of the compliance rules of other 401(k) plans. This can be more cost-effective when compared to the fees that come with managing a traditional retirem...
401(k) Plan Design Options: A Discussion Focusing on Safe Harbor, Automatic Enrollment, and Roth 401(k) Plan FeaturesAmy Pocino Kelly