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Do you want to Contribute More to your 401k Plan?

Posted Thursday, September 11, 2014 by Joe Trybula, CFP®, AIF® with Diversified Financial / Printer's 401K.

alt textWhat you need to know from PPI Partner Diversified Financial who manage the Printer’s 401k plan. Save money, hassle and administration through this member’s only preferred vendor.

The Printers 401k® “Safe Harbor” plan makes it easy for business owners to maximize contributions to their own accounts while reducing some of the limitations associated with adhering to IRS non-discrimination testing.

The Printers 401k® Safe Harbor Plan allows you to:

• Contribute the maximum annual deferral amount $23,000 ($17,500 as an elective deferral plus $5,500 as a catch up contribution for those over the age of 50 for 2014), to your own 401(k) account.

• Receive additional company matching contributions (since you are an “employee” too!)

• Avoid the hassles of IRS non-discrimination testing

• Get tax deductions for your matching contributions

As you might expect, advance preparation and planning is always necessary in order to establish a new plan or redesign an existing one. Therefore, now is the time to consider whether a safe harbor feature is right for your company in order to ensure that it can be fully operational in advance of the October 1st deadline for new plans and December 1st for redesigned plans.

For more information on how your company could take advantage of the Safe Harbor, please contact Joe Trybula 800-307-0376 or joe@diversifiedfa.com