Labette, Lane, Leavenworth, Lincoln, Linn, Logan, Lyon Jackson, Jefferson, Jewell, Johnson Kearny, Kingman, Kiowa Hamilton, Harper, Harvey, Haskell, Hodgeman Geary, Gove, Graham, Grant, Gray, Greeley, Greenwood The following students earned honors from Kansas State University:Ĭhase, Chautauqua, Cherokee, Cheyenne, Clark, Clay, Cloud, Coffey, Comanche, Cowley, Crawford The honors also are recorded on their permanent academic records. Students earning a grade point average for the semester of 3.75 or above on at least 12 graded credit hours receive semester honors along with commendations from their deans. Having family involved typically reduces your flexibility in maximizing your retirement savings as a business owner.MANHATTAN - More than 4,220 Kansas State University students have earned semester honors for their academic performance in the fall 2019 semester.
Also, if you have younger family members working for your business, a New Comparability plan design may not be a good fit. It can lead to fluctuations in the projected contributions amounts, which leads to less certainty in maximizing your contributions. If you have significant employee turnover, a New Comparability plan design may not be a good fit. This combination eliminates the headache of certain testing requirements and usually allows you to maximize your retirement savings.Īre there situations in which a New Comparability design doesn't work? In many circumstances, the most powerful combination is to pair the New Comparability feature with a Safe Harbor plan design. Depending on your situation, however, we may recommend additional changes to your plan design. Will this work with my existing 401(k) plan?Ībsolutely. Invisor can simply add the New Comparability feature to your current plan. Practically speaking, though, the design works best if you have the following:
Theoretically, any employer can utilize a New Comparability plan design. This seemingly small modification can make a big difference in the amount you can allocate to your account.Ĭan any employer utilize a New Comparability 401(k) plan design? So how can a New Comparability plan pass nondiscrimination testing and allow you to increase your share of employer contributions? The solution is to measure the value of contributions at each employees’ projected retirement date, rather than in today’s dollars. How will this pass nondiscrimination testing?Ĥ01(k) plans must provide benefits that are roughly equal to all employees. Invisor will help you determine which option is most advantageous. The required contributions to your staff would be the lesser of (a) 5% or (b) 1/3 of the contribution percentage allocated to your account. In order to maximize your contributions in a New Comparability plan, you will be required to make certain minimum contributions to all other employees. Give us a call at 78 or send an email to the catch? Invisor would gladly prepare a personalized recommendation for you at no charge. Several factors come into play - for instance, the design of your current plan, your age, the age of your employees, and compensation levels. How much more could I add to my retirement account each year? By maximizing retirement contributions, business owners also maximize the built-in tax advantages of their 401(k) plans. The key is allocating a greater share of profit sharing contributions to the business owner(s).
How does a New Comparability 401(k) plan work?Ī New Comparability 401(k) plan allows business owners to make substantial contributions to their retirement accounts - more than they could with a standard 401(k) plan.
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