Participate in a Pooled Employer Plan (PEP)
Within minutes, you can setup a 401(k) plan.
Participate in a Pooled Employer Plan (PEP)
Within minutes, you can setup a 401(k) plan.
401(k) Basics
Contribution Limits
The deferral contribution limit for employees who participate and save in a 401(k) is $19,500 for year 2021. Those age 50 or over are eligible for an additional catch-up contribution of $6,500.
Employers can contribute up to $58,000 in 2021 between salary deferrals and employer contributions combined.
Employer matching – Employer contributes a certain amount to your retirement savings plan based on the amount of your own annual contribution. The most common way employers determine matching contributions is to match a percentage of an employee's contribution, up to a certain limit.
Employer non-elective – A profit-sharing contribution that is discretionary. There is no set amount that the law requires you to contribute. If you can afford to make some amount of contributions to the plan for a particular year, you can do so.