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In the case of safe harbor 401 (k) plans, it means the employer is exempt from yearly nondiscrimination testing that is required from other 401 (k) plans. If the employees 401 (k) account is fully ...
Contributions may benefit the company in various ways: as an employee benefit to attract and retain employees, as a business tax deduction, or as a safe harbor contribution to automatically pass certain annual testing of the plan required by the IRS and Department of Labor or to fulfill the plan's top-heavy provisions. [citation needed]
This includes making a "safe harbor" employer contribution to employees' accounts. Safe harbor contributions can take the form of a match (generally totaling 4% of pay) or a non-elective profit sharing (totaling 3% of pay). Safe harbor 401(k) contributions must be 100% vested at all times with immediate eligibility for employees.
t. e. Section 409A of the United States Internal Revenue Code regulates nonqualified deferred compensation paid by a "service recipient" to a "service provider" by generally imposing a 20% excise tax when certain design or operational rules contained in the section are violated. Service recipients are generally employers, but those who hire ...
This creates a means test "safe harbor" for debtors below the state's median income figure. Current monthly income is defined in as the monthly average of the income received by the debtor (and the debtor's spouse in a joint case) during a defined six-month time period prior to the filing of the bankruptcy case. Some narrow classes of payments ...
Watered stock. v. t. e. A defined contribution ( DC) plan is a type of retirement plan in which the employer, employee or both make contributions on a regular basis. [1] Individual accounts are set up for participants and benefits are based on the amounts credited to these accounts (through employee contributions and, if applicable, employer ...
In United States business law, a forward-looking statement or safe harbor statement is a statement that cannot sustain itself as merely a historical fact. A forward-looking statement predicts, projects, or uses future events as expectations or possibilities. These statements can often be misleading, as they can be mistaken for factual ...
Other safe harbor provisions ยง 512(a) Transitory Network Communications Safe Harbor. Section 512(a) protects service providers who are passive conduits from liability for copyright infringement, even if infringing traffic passes through their networks. In other words, provided the infringing material is being transmitted at the request of a ...