Are employers required to contribute or match SOMETHING in 401K plans?
no, there is not such requirement in a 401k (unfortunately). if i recall correctly, the only employer sponsored retirement vehicle that requires an employer match is a simple ira.
If the plan is not top heavy the employer is not required to make a contribution to a 401k plan.If more than 60% of the assets of the plan are held by key employees then the plan must make a 3% non-elective contribution to all eligible plan participants.I hope this answers your questionDon
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |