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.
Participants who attain the age of 50 or older during the 2016 plan year may increase their elective salary deferral by $6,000 to a maximum of $24,000. In any case, the participantâs elective salary deferral cannot exceed their includable salary.ï· Combined Limits â The combined contribution limit to the 2016 plan year is $53,000 unless the over 50 catch-up provision is utilized.eform Pension Board IRS Maximum Contribution Limits to the RPB 403(b) Plan RPB Plan Year 2016 (July 1, 2015 â June 30, 2016) The IRS places limits on the contributions that can be made to a 403(b) plan. The contribution limits are determined by the type of contribution that is being made.