WebSafe Harbor 401(k) Plans With Robert M. Kaplan, CFP, CPC, QPA, APA AGENDA •The Basics •Getting Started •Documentation and Disclosure •Creative Plan Design ... Creative Plan Design •Top Heavy Exemption •Cross-testing •Maximizing match. 7/17/2014 12 Creative Plan Design –Top Heavy Exemption Web8. mar 2024 · Revenue Ruling 2004-13 indicates the term “top-heavy plan” does not include a plan which consists solely of: 1. a cash or deferred arrangement that meets the requirements of section 401 (k) (12) 2. matching contributions with respect to which the requirements of section 401 (m) (11) are met.

Safe Harbor 401k Plans Guide for Small Business Owners - Guideline

Web17. jún 2024 · CASE OF THE WEEK - Top Heavy Safe Harbor Plans - TRA A recent call with a financial advisor from Florida is representative of a common inquiry related to safe harbor 401(k) plans. The advisor asked: "One of my clients has a safe harbor 401(k) plan and his recordkeeper told him the plan was top heavy. How could that be? WebSafe Harbor plans that provide a flat 3% contribution to all eligible employees are exempt from ADP testing. This allows the 3% contribution that the company was making anyway to do “double duty” for Click & Go, Inc. – meeting the top-heavy minimum requirement and avoiding the ADP testing. fontana shower parts

SECURE Act Alters 401(k) Compliance Landscape - SHRM

Web29. mar 2024 · Safe harbor 401 (k) plans are the most popular type of 401 (k) sponsored by small businesses today. They can help business owners maximize their annual … Web5. jan 2024 · The Top Heavy Test. 401(k) plans are also subject to an IRC §416 top heavy test. A 401(k) plan is considered top heavy for a plan year when the account balances of “Key Employees” exceed 60% of total plan assets as of the last day of the prior plan year. ... Safe harbor 401(k) plans can automatically satisfy the minimum contribution ... eileen\u0027s galleria salon and spa