What is a Safe Harbor 401(k)?
Your plan could benefit from an extra compliance boost via safe harbor.
The Safe Harbor 401(k) plan is a way for employers to bypass large compliance hurdles such as the IRS non-discrimination tests. It enables employers to essentially exempt themselves from red tape by making specific contributions to employees' retirement savings accounts. You can think of it as giving eligible employees an immediate raise in exchange for fewer administrative headaches. The problem is that safe harbor contributions are expensive. Use the calculator below to estimate exactly how much.