Want to increase your assets under management?
Increase assets under management and increase the value you bring to your clients by offering 401(k) Safe Harbor plans to your existing SIMPLE IRA plans. Receive professional guidance and insight from Trinity's team of Consultants, Actuaries, Administrators and Relationship Managers to design the best plan to meet your clients' needs.
- No more than 100 employees who earned more than $5,000 in prior year
- Limited contribution flexibility
- $6,000 maximum contribution
- $1,000 catch-up contributions
- 100% up to 3% match to participants or 2% to all eligible employees
401(k) Safe Harbor
- 10+ Employees
- Investment flexibility with Profit Sharing
- $19,500 maximum contribution
- $6,500 catch-up contributions
- 3-4% Safe Harbor; optional contribution of either matching or profit sharing up to 25% of eligible compensation
Why Safe Harbor 401(k)
With a 401(k) Safe Harbor plan, the contribution limits are much higher. The maximum annual contribution for a SIMPLE IRA plan is $6,000, while a 401(k) Safe Harbor plan is $19,500. A SIMPLE IRA is very limited on contribution flexibility, resulting in less assets under management. Converting your SIMPLE IRA plans to 401(k) Safe Harbor, results in more assets under management through higher contribution limits and the flexibility to do profit sharing.
Interested in learning more on how to grow your business?
Contact your Local Regional Vice President / Retirement Sales today.
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