Eligibility criteria for 401kInABox™ Safe Harbor Plan
- No existing 401(k) plan
- No SEP or SIMPLE IRA for the current plan year
- All employees including the owner paid on a W-2
- Employer will make employer contribution on a payroll by payroll basis
- No controlled groups or affiliated service groups
- Able to work with us electronically
- Work with one of our preferred recordkeeping partners
The Annual fee of $499 will apply if your company can meet the following criteria.
Select from the following participant eligibility options
No waiting period, quarterly entry dates
1 year of service with 1000 hours, semi-annual entry dates
1 year of service with no minimum hours and semi-annual entry dates
Select from the following plan contributions options
With 401kInABox™ Safe Harbor Plan, the employer have following options regarding employer contributions to the Plan. These apply to any eligible employees:
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.