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.
One caveat: You canât make salary deferral contributions to a SIMPLE IRA if youâre maxing out salary deferral contributions through another employer retirement plan (unless youâre contributing to a 457 plan, which is typically used by government or non-profit organizations).