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Asked 2/6/2009
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What will a safe harbor 401k cost my company? I have 4 employees, earning between 70,000 and 120,000 per year. 2 of those employees are owners (my husband & self, both over 50) Specifically, how much do I have to pay into the 401k for the other 2 employees if I put the max of 20,500 into each of the owner's 401K accounts? Under safe harbor, I think I have to put 3% of gross into anyone NOT participating, but what happens if the other 2 employees contribute their maximum (15,500)? Can the company match the owner's contributions? And if it does, does it have to match the others? |
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