What is the top-heavy test? 401(k) plans must be tested annually to determine if they are top-heavy. The top-heavy test compares the account balances of “key employees” to those of “non-key employees.” If the sum of all key employee balances exceeds 60% of the total plan balance the plan is Read more…
2021 Retirement Plan Limits
The IRS announced the new limits for 2021 retirement savings and the amount that 401(k) participants, or participants in similar employer sponsored plans can save is staying the same. Read more…
