401(k)

A 401(k) is a “qualified plan” established by employers to which eligible employees may make salary deferral (salary reduction) contributions on a post-tax and/or pre-tax basis. Annual contribution limits are established by the IRS, which also regulates how and when employees can withdraw these assets, and penalties that may apply if the amount is withdrawn while an employee is under the retirement age as defined by the plan. View Annual Contribution Limits.

In addition to employee salary deferrals, employers offering a 401(k) plan may make matching or non-elective contributions to the plan on behalf of eligible employees and may also add profit-sharing or other features / provisions to achieve specific objectives of the plan sponsor. A 401(k) plan is subject to Discrimination Testing and requires multiple government filings as well as a comprehensive plan document.

Typically employee and employer contributions are invested. Plans that allow participants to direct their own investments provide a core group of investment options from which participants may choose. Otherwise, a professional Investment Manager is hired by the employer to direct and manage the employees’ investments.

Contact NestEggs for more information or to set up a free consultation to discuss the retirement plan option that is right for your business.

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Employer Sponsors

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Plan Participants

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Professionals

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Office Locations

Jacksonville, FL
Boston, MA
Burlington, VT

Phone

Florida: 904-348-3131

Burlington: (802)-391-4700

Boston: 978-380-5185

Toll Free: 866-202-4646

Fax: 904-348-3136

 

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