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 participant may elect to defer up to 100% of his/her salary/wages to the plan, up to the statutory dollar limit in effect for the year. For qualified plans and 403(b) plans, the employer may limit salary reduction contributions to a percentage less than 100% of salary/wages, if permitted. Different limit applies to different types of plans. The dollar limits are as follows: 401(k), 403(b) and 457(b) Year. Salary deferral/Reduction limit.