Flexibility to create employer-matched contributions
Automate your tiered company match that is based on employee deduction percentages, gross wages percentages, or fixed amounts, even across multiple plans. Enhanced Retirement Plans support numerous retirement plans, including SIMPLE IRAs, Roth IRAs, defined benefit and contribution plans (401(k)/403(b)), and non-qualified plans like 457(b) plans.
Enforces combined contribution limits
Employees can contribute to more than one retirement plan but must comply with IRS and company regulations that specify maximum contributions allowable to retirement plans. Enhanced Retirement Plans will enforce combined contribution limits across all employer-provided retirement plans.
Automates catch up contributions across retirement plans
This allows eligible employees to make additional contributions above the regular limit once they meet the age criteria, without you having to set up a unique benefit code or changing deduction information.
In life, there’s a hard way and an easy way to do everything.
The same is true for calculating tiered match to multiple 401(k) calculations…