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October 1 is the Safe Harbor 401(k) Deadline

Clients must sign paperwork by September 30 to establish a plan.

Before the deadline arrives, consult with your clients on how a Safe Harbor 401(k) can maximize their contributions regardless of employee participation or deferrals.

With a Safe Harbor 401(k), your clients can:

  • Defer up to $17,500 with pretax payroll deductions, regardless of what employees defer.
  • Contribute a maximum of $51,000 through employer and employee contributions to further reduce tax liabilities.
  • Add $5,500 to the limits if the employee is age 50 or over.
  • Defer into Roth (post-tax) 401(k) contributions, regardless of income.