What is the name of your state (only U.S. law)? MO
I am in the process of preparing a compensation increase negotiation proposal with my employer. I am trying to be creative as employer has aversion to simple salary increases that increase base salary with respect to future calculations.
We have a 401k plan I must assume is a Traditional 401k as there are no mandatory employer contributions. My employer's rule is simple...match what he wants if there are funds available, no match if not. We've had no match since 2008. Small business with approx 40 employees.
I would like to ask for a guaranteed match of either a % of pre-tax $ or a fixed dollar amount. But, I do not know if that would violate 401k non-discrimination rules. Although I do not know for sure, I do not believe any employee would classify as an Highly Compensated Employee save the owner himself.
Could my employer contribute to my 401k a significantly higher amount / any amount to my 401k but not to other employees without failing non-discrimination testing?
Thank you for any responses. Vestie
I am in the process of preparing a compensation increase negotiation proposal with my employer. I am trying to be creative as employer has aversion to simple salary increases that increase base salary with respect to future calculations.
We have a 401k plan I must assume is a Traditional 401k as there are no mandatory employer contributions. My employer's rule is simple...match what he wants if there are funds available, no match if not. We've had no match since 2008. Small business with approx 40 employees.
I would like to ask for a guaranteed match of either a % of pre-tax $ or a fixed dollar amount. But, I do not know if that would violate 401k non-discrimination rules. Although I do not know for sure, I do not believe any employee would classify as an Highly Compensated Employee save the owner himself.
Could my employer contribute to my 401k a significantly higher amount / any amount to my 401k but not to other employees without failing non-discrimination testing?
Thank you for any responses. Vestie