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Storick Group - Safe Harbor 401k Plans (1)

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A Safe Harbor 401(k) Plan is a relatively new type of 401(k) Plan that automatically meets certain IRS non-discrimination requirements, unlike a traditional 401(k) plan, if the employer commits to making one of two types of employer contributions. – PowerPoint PPT presentation

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Title: Storick Group - Safe Harbor 401k Plans (1)


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(No Transcript)
2
401k
Retirement Plan, Advantages
and
Benefits
By Storick Group Investment service in Boca
Raton, Florida
3
What Is A 401 (K) Retirement Plan?
4
401 (k) Is A Retirement Saving Plan Sponsored By
An Employer.
5
Advantages And Benefits Of a 401 (k) Plan
6
401 (k) Is A Retirement Saving Plan That Has
Many Advantages. But It Also Has Some Restrictions
7
401k Plan Is Good To Go For All Types Of
Businesses Including
8
SELF EMPLOYED
PARTNERSIP
9
SOLE PROPRIETORSHIP
10
Within Certain Guidelines, An Employer Is
Responsible For Setting Up The Eligibility
Requirements.
11
An
Employer
Has The Power To Restrict
401k
Plan
For
Employees
Such
As
gt Less Than One Year Service
gt gt gt gt
Union Members Non US Citizens Part-Time
Workers ETC.
12
A 401k Contributions Can Come From Both
Employee And/or Employer Voluntary Salary Reductio
n.
13
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Additional Catch-Up Contributions Of 5,500 Is
Allowed For 401k Participants Aged 50 And Over.
15
Employees Are Immediately 100 Vested With Their
Own Salary Reduction Tax Deferred Contributions
16
10 Penalty May Be Subject To Employee
Withdrawals Before Age 59
17
Retirement Any Time During The Calendar Year In
Which An Employee Turn 55 Or Later Are Not
Subject To 10 Penalty
18
Within Certain Guidelines, An Employee Can
Establish A Vesting Schedule For The Contribution
An Employer Makes To The 401k Plan.
19
A 401k Plan Does Not Obligate An Employer To Make
Any Contributions To The Plan, Unless The Plan Is
Deemed Top Heavy.
20
A 401k Plan Is Also Available In Internet
And Turnkey Forms.
21
A 401k Plan Has Excellent Range Of Investment
Options Available, Sponsor To Offer Within The
Plan.
22
An Average 401k Plan Has Up To 16 Investment
Choices/Options But May Range Up To 8 To
20 Options As Well.
23
Self-Directed Investment Accounts And Company
Stock Purchase Are Permitted In 401k Plans With
Certain Terms and Conditions.
24
Till There Is No Distribution From A 401k Plan,
No Federal Income Taxes Are Applied On
Employee Contributions To The Plan. Same Goes
With All Types Of Investment Gains And Earning.
25
Hardship Withdrawals And Loans Are Permitted In A
401k Retirement Plan.
26
During A Course Of Year, Participants Can Start
Or Stop Contributions To The Plan As Determined
By The Company.
27
Contributions To A 401k Plan By An Employer May
Give Certain Tax Benefits To The Employer.
28
Discrimination And Top Heavy Testing May Apply
To 401k Plans.
29
Typically, Contributions Of Other Employers Are
The Function Of The Amount That Owners And Highly
Compensated Individuals Can Contribute To A 401k
Plan.
30
IRS 5500 Filings May Apply To 401k Plans
31
Files 5500 reports with IRS, Accounting,
Participant Reporting, And Testing Are
All Performed By The Vendor Selected By The 401k
Plan Sponsor.
32
Today, 401k retirement saving plan has proven to
be one of the most popular saving plans for
employees for many reasons. Some them include
increased profitability, employer matching
contributions, and the highest on the list is the
tax deferral.
33
Now Retirement Help Is Only A Few Clicks Away With
Dear
401K
J
A Safe Harbor 401(k) Plan is a relatively new
type of 401(k) Plan that automatically meets
certain IRS non-discrimination requirements,
unlike a traditional 401(k) plan, if the employer
commits to making one of two types of employer
contributions. 
Learn More www.storickgroup.com/or Call Now at
1 561-862-8051
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