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Benefits  >>   Safe Harbor 401(K) and waiting period on employer match Search Discussion Posts
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#1

Safe Harbor 401(K) and waiting period on employer match  
Posted: 10/25/2011 06:51am   29 Views
  

Does anybody know if a waiting period for the employer match is allowed under the Safe Harbor Plan Design for 401(K) Plans? We understand that the match should be 100% vested at all times, but can we start matching contributions after one full year of employment while allowing employee deferrals after one full month of employment?

 


#2

Safe Harbor 401(K) and waiting period on employer match  
Posted: 10/25/2011 09:57am  
  

I would suggest contacting your 401k provider. They should be able to provide you with any regulations/rules in regards to employer matching.

We have a 90 day wait for participation in our 401k plan. We start the employer match at that time with the employee being 100% vested in their contributions and on a vesting schedule (100% after 6 years) for the employer matching. I do recall seeing language that if the waiting period for employee participation is 1 year, then the employee is 100% vested from that start date.  


 
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