Safe Harbor 401(k) plans offer advantages for employers who want to provide company incentives to their employees without the hassle of complicated plan testing and administration.
⦁ A dollar-for-dollar match with a maximum employer match of 4% of compensation.
⦁ A dollar-for-dollar match on first 3% of compensation plus a 50 cent match on the next 2% of pay contributed for a maximum match of 4% of compensations.
⦁ A dollar-for-dollar match with a maximum of 6% of compensation.
⦁ A 3% of compensation contribution whether or not the employee contributes to the plan.
⦁ 401kInABox allows both pre-tax 401(k) deferrals and after-tax Roth deferrals.
⦁ Profit sharing (additional fee applies).
|Explanation of Service||Fee|
|Plan Illustration and Consultation||$99*|
|Initial Setup Fee||$499|
Annual Administration including filing of IRS Form 5500-SF
Eligibility criteria for 401(K) SafeHarbor plan
|Additional Services (if applicable)|
|Annual Per Participant Fee||Up to 15 participants included|
|Profit Sharing (up to 15 participants included)||$350|
|Distribution processing (paid by employee)||$125|
|Loan processing (paid by employee)||$125|
|Form 5558 extension||$99|
|If census and asset data is not received by June 28th of the following year||$99|
|Plan Document Maintenance||$125|