ADVANTAGES OF A 401(K) PLAN:

• Employees contribute to their own accounts

• Employer contribution (Including match), if any, are deductible business expense

• Flexible program designs to suit employer needs

• Annual nondiscrimination testing is not required for Safe Harbor 401(k) plans

• Roth 401(k) or a post-tax contributions feature available

• High contribution limits

• Participant loans available

• 2024 Employee Annual Deferral Limits: $23,000 ($30,500 if over age 50)

*A 401(k) may not be appropriate for companies looking for a plan with little or no cost and/or IRS reporting requirements

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