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401(k) Salary Deferral Retirement Plans
The
amount that can be deferred by an employee is limited by tax
law. The deferral dollar limit is adjusted for inflation each
year. You may also make matching contributions on behalf of
each participating employee. In
addition to the general tax-qualification requirements, all 401(k)
plans must meet certain other requirements. For instance, all
401(k) salary deferrals made by employees must be completely non-forfeitable.
Also, 401(k) plans must meet special nondiscrimination rules. If
your company already has profit sharing or other "defined
contribution" plan, a 401(k) option is easy and inexpensive to
add. Your only additional expense is the administration
costs. With a preexisting plan, these added costs are
generally low. If you are setting up a new qualified plan, the
expense and paperwork of adding a 401(k) option along with your plan
are minimal.
For more information please feel free
to browse around our web site. We are always happy to answer
any questions, or to schedule a consultation contact:
Marcel
V. Kuper |
Personal Financial Specialist
