WebNon-Safe Harbor Plans Discretionary Match. If your company’s retirement plan is using a discretionary match, you can generally reduce or eliminate these employer contributions mid-year fairly easily without the need for a plan amendment. Even though there is not an employee notice requirement to stop this type of match, you would still want ...

Safe Harbor 401k: The Complete Guide [Infographic] - Emparion

WebADP safe harbor may not be discretionary The safe harbor ADP contribution may not be discretionary. • The required notice to employees (see 8.) may provide that the final decision to make the safe harbor nonelective contribution will be made at least 30 days (and no more than 90 days) before the last day of the plan year. WebJun 22, 2024 · As long as no amount of deferrals exceeding 6% of Compensation receives the match, then you are fine with respect to that standard. If you earn $100,000 in Compensation and defer $7,000; the only deferrals receiving match (under the safe harbor) would be $6,000. family pets coloring sheets

How to Suspend or Eliminate Your 401(k) Plan’s Match

WebNov 3, 2024 · The safe harbor 401(k) plan is not subject to the complex annual nondiscrimination tests that apply to traditional 401(k) plans. Safe harbor 401(k) plans … WebJun 13, 2024 · Employer matching contributions that don’t meet the safe harbor 401(k) requirements must pass the Actual Contribution Percentage (ACP) test to be considered … WebWhat is a discretionary match? Discretionary or regular match means that, unlike safe harbor match which is required to be provided in order to have safe harbor status on the plan, they have the option from year to year to update the regular/discretionary match formula used, including discontinuing it entirely. cool free standing hand towel stand