Welcome to the Plantation. St. George Plantation Owners' Association is a private, gated community located on the west end of St. George Island, Florida. The Plantation is a special balance of nature and wildlife, pristine beaches and beautiful homes, social activities and solitude.
A 401(k) plan is simply a profit sharing plan with a provision allowing employee salary deferrals. Most 401(k) plans provide employer matching contributions based on a participantâs contribution, with an additional option for a profit sharing allocation.
Contribution types and limits are the same as those for a 401(k) profit sharing plan, with a âsafe harborâ exception. To qualify for the exception, the employer must make a 100% vested contribution of either: 3% of compensation for each eligible employee or. A matching contribution of up to 4% of compensation.