The Differences Between 401k and Profit Sharing

Do you know the differences between the 401(k) profit sharing plan varieties? Generally Traditional, Safe Harbor, and SIMPLE 401(k) plans differ in the way employee deferrals and employer matching work together to provide to benefits to the participants. Knowing which plan is right for you and your company takes into account a number of different factors; how much do you want to defer, how much the employee wants to defer, and what proportionate levels are appropriate for each class of employee.

Posted in Commercial Insurance on February 10, 2010 by admin