Eligibility criteria for 401kInABox™ Safe Harbor Plan

  • No existing 401(k) plan
  • No SEP or SIMPLE IRA for the current plan year
  • All employees including the owner paid on a W-2
  • Employer will make employer contribution on a payroll by payroll basis
  • No controlled groups or affiliated service groups
  • Able to work with us electronically
  • Work with one of our preferred recordkeeping partners

The Annual fee of $499 will apply if your company can meet the following criteria.

Eligibility options

  • No wait with quarterly entry dates
  • 1 year of service with 1000 hours and semi-annual entry dates
  • 1 year of service with no minimum hours and semi-annual entry dates

Plan Contributions Options

With 401kInABox™ Safe Harbor Plan, the employer have following options regarding employer contributions to the Plan. These apply to any eligible employees:

  • A dollar for dollar match with a maximum employer match of 4% of compensation.
  • A dollar for dollar match on first 3% of compensation plus a 50 cent match on the next 2% of pay contributed for a maximum match of 4% of compensations
  • A dollar for dollar match with a maximum of 6% of compensation.
  • A 3% of compensation contribution whether or not the employee contributes to the plan
  • 401kInABox™ allows both pre-tax 401(k) Deferrals and after-tax Roth deferrals.
  • The annual fee of $499 will include the Annual Form 5500.

Our Guarantee

401kInABox™ provides following guarantees:

With your input, we will prepare a plan design that best fits the needs of your company. Once we … [Read More...]

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