Compliance testing is a crucial annual responsibility for 401(k) plan sponsors, mandated by the Internal Revenue Service (IRS). It ensures that a company’s 401(k) plan remains equitable, not favoring owners and highly compensated employees (HCEs), and stays within IRS-prescribed limits.
Tag: Small Business
At InSight, we encourage profit sharing as a valuable option within a 401(k) plan, allowing employers to make pre-tax contributions to their employees’ retirement accounts at the end of the year. Contrary to its name, profit sharing doesn’t necessitate that
When it comes to money, almost every family has some complications when it comes to managing household cash flow. But when one or both of the earners in the same home have an irregular cash flow new issues of cash