October 1, 2014 is the last day to establish a safe harbor 401 (k) plan.
A 401(k) plan, with safe harbor provisions can enable highly compensation employees to maximize salary deferrals 3 ways:
- Defer up to $17,500 with an additional $5,500 if you are 50 years or older.
- Contribute maximum of $52,000 via employer and employee contributions in 2014, with additional $5,500 if you are 50 years and over.
- Consider Roth 401(k) post-tax as an option.
Please contact Brenda Jacobs at (231) 726-5880 or firstname.lastname@example.org for more details.