Safe Harbor 401k Plan Enrollment

Low Fee Safe Harbor Plans

Starting at $65 per year

Customize your Safe Harbor 401k Plan

Through our preferred providers we can help save you
THOUSANDS on excess fees.

** Reminder: the 2018 deadline to set up a new
safe harbor 401(k) plan is October 1st

What is a Safe Harbor 401k Plan?

A Safe harbor 401(k) plan allows a plan sponsor to automatically pass certain annual tests to ensure compliance with IRS regulations if specific contribution, vesting, and participant notification requirements are met.* Safe harbor plans generally don’t require the following compliance tests:

• Actual deferral percentage (ADP). A test for pre-tax elective and/or Roth deferrals by highly compensated employees (HCEs) to a 401(k) plan exceeding the maximum amount permitted under nondiscrimination testing rules for a plan year. The test compares HCE with non-HCE contributions to determine whether HCEs have exceeded certain thresholds.

• Actual contribution percentage (ACP). A test for employee after-tax contributions or employer matching contributions by HCEs to a 401(k) plan exceeding the maximum amount permitted under nondiscrimination testing rules for a plan year. The test compares HCE with non-HCE contributions to determine whether HCEs have exceeded certain thresholds.

• Top-heavy plan. A test measuring the degree to which certain officers and owners dominate a 401(k) plan. A top-heavy plan essentially favors officers and owners over other employees.

PLAN FEATURES

Schedule Appointment

Safe Harbor 401k Simple Enrollment

SIMPLE FORM

CALENDAR APPOINTMENT

START DATE

ENROLLMENT PERIOD

401k Plans may be appropriate for	Public and private companies with stable earnings
401k Tax benefits	For employees: Tax-deferred growth potential and pre-tax contributions For employers: Tax-deductible contributions
Mutual Fund Fees	Vary by your company 401k plan design
Key 401k advantages	Flexible plan design Online access to accounts through designated provider Wide range of mutual fund options
Available features	Employer matching contributions Participant loans
401k IRS maximum contribution	Salary deferrals up to $18,000 for 2017 and $18,500 for 2018
401k Catch-up contributions	Additional salary deferrals up to $6,000 for 2017 and 2018 for those age 50 or older
Administrative responsibilities	Filing of IRS Form 5500 Special IRS testing to ensure plan does not favor highly compensated employees Various employee notices regarding distributions and other events
Withdrawals	Vary by plan, fees may apply with taking a 401k loan

Why choose the Storick Group for TPA Services?

We always keep our interests aligned with yours. Our third party administration provides you with an affordable way to manage your company 401k plan. Our partners and providers grant 401k access to a universe of proprietary products and mutual funds. Unlike many of our competitors and payroll companies who cannot provide advice or guidance on investments. Through our strategic partnerships, those companies whom provide 401k plans can help with investments and insurance needs. That means that when you select a retirement plan, you’ll never need to wonder who to turn to when you need help on the investment options available for selection. In addition, the financial institutions are acting as fiduciaries for your company’s and employees’ best interests.
We help your employees become retirement ready. Your employees will gain confidence that they’re on the right path to retirement through ongoing education programs and other forms of guidance. When employees understand their retirement plan benefits they’re more likely to enroll and use those benefits to their full potential.
We make retirement administration easy. If you’re already using a payroll company, you’ll have seamless integration between your payroll and your 401(k) plan recordkeeping systems, which means huge gains in efficiency for you. With our providers, you can eliminate many administration and recordkeeping tasks, reduce your administration burden and focus on growing your business.

Setting up or transferring a company retirement plan is simple

Whether you’re looking to establish new retirement services such as a 401(k) plan or Profit Sharing, Cash Balance or Defined Benefit Plan, or transfer your existing 401(k) retirement plan, we can quickly walk you through the options. Our process is designed to be easy to understand and implement.