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Retirement plans fall into one of two categories: Defined Contribution Plans and Defined Benefit Pension Plans. Defined Contribution Plans, also known as retirement savings programs, cover a broad range of programs such as Profit Sharing and 401(k) plans. These types of programs allow owners and employees to make contributions that are allocated to individual participant…
A recurring question that comes up each year is how much can I contribute to a retirement plan?
When it comes to 401(k) plan administration and payroll, they don’t have much to do with each other beyond salary deferrals