Employers
401(a)
This plan, setup by employers, defines qualified trusts, including the various qualification rules.
With a 401(a) plan, employees are not eligible to make contributions themselves. The employer determines the amount of money to be contributed to a 401(a) plan each year. These may be tied to job performance and used as a way to retain key personnel. Furthermore, 401(a) plans allow employers to have multiple programs, providing you with the flexibility to create different incentive categories.
The funds from 401(a) plans may be distributed through lump-sum payments, rollover or annuity payment. However, each state has specific laws governing 401(a) plans. Fortunately, GGG can help you stay in compliance with all of them.
With a 401(a) plan, employees are not eligible to make contributions themselves. The employer determines the amount of money to be contributed to a 401(a) plan each year. These may be tied to job performance and used as a way to retain key personnel. Furthermore, 401(a) plans allow employers to have multiple programs, providing you with the flexibility to create different incentive categories.
The funds from 401(a) plans may be distributed through lump-sum payments, rollover or annuity payment. However, each state has specific laws governing 401(a) plans. Fortunately, GGG can help you stay in compliance with all of them.
GGG Administrative Services for 401(a) Plans:
- Plan Documents
- Fund or Vendor recordkeeping
- Disbursements and tax reporting
- Compliance coordination with Plan Rules and special Eligibility