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.
A profit-sharing plan accepts discretionary employer contributions. There is no set amount that the law requires you to contribute. If you can afford to make some amount of contributions to the plan for a particular year, you can do so.Other years, you do not need to make contributions.Also, your business does not need profits to make contributions to a profit-sharing plan. If you do make contributions, you will need to have a set formula for determining how the contributions are divided. This money goes into a separate account for each employee.ther years, you do not need to make contributions. Also, your business does not need profits to make contributions to a profit-sharing plan. If you do make contributions, you will need to have a set formula for determining how the contributions are divided. This money goes into a separate account for each employee.