Leverage 401(k) Plan With Cross-Testing To Maximize Key Employee Benefits
- Topics:
- Stock Options
- Tags:
- 401(k),
- 401(k) Plan,
- Benefits,
- Employee Benefit,
- Finance,
- Human Resources,
- Investment,
- Retirement Plans
- Source:
- Reed Elsevier
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Overview: This article is written for employers who: (i) have a 401(k) plan; (ii) contribute (or have cash flow to contribute) at least 3% to 5% of employee compensation to the plan; and (iii) would like to differentiate the level of benefits for key employees (including owners) from the level of benefits provided to other employees. 401(k) plans are not new retirement plan vehicles. However, the Small Business Job Protection Act of 1996 created the "401(k) safe harbor." In a traditional non-safe harbor 401(k) plan, employees may elect to defer part of their current compensation to the 401(k) plan.
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Format: HTML | Date: Aug 2003 | Pages: 1
