Safe Harbor 401(k) Plan

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Safe Harbor 401(k) Plan Design

Safe Harbor 401(k) Plans can eliminate a host of testing issues for traditional 401(k) Plans. If HCE contributions in your plan have resulted in corrective distributions in the past, you may consider a Safe Harbor plan in 2020. The deadline is quickly approaching, so be sure to contact us before December 1st to make 2020 plan changes.

Does My Safe Harbor Plan “Require” Testing?

There is a common misconception that safe harbor plans are exempt from testing requirements. This overly general and inaccurate statement calls for a proper explanation. A safe harbor plan requires tests other than non-discrimination, entails proper administration to satisfy the plan design and can benefit from testing for plan optimization.

2019-07-19T10:16:12-05:00March 18th, 2019|Categories: 401k Resources|Tags: , , , , , |Comments Off on Does My Safe Harbor Plan “Require” Testing?
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