This 401(k) option allows you to:
Reward different groups of employees with different levels of profit sharing
Profit-sharing contributions into 401(k)s are tax deductible for your business
Can be used in conjunction with a Safe Harbor 401(k) to help ensure you satisfy plan tests
Profit sharing can be a component of any plan design. It’s quite simple to provide a profit share of the same percent or amount across all employees. A special type of profit sharing that can allow more options is known as Advanced Profit Sharing or Tiered Profit Sharing.
Advanced Profit Sharing allows employers to identify unique groups of employees within the company and reward employees a different percentage or amount of profits by group.
No reviews yet.
Let users know what you would have wanted to know about this company.
