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.
Compensation is not reduced by salary deferral contributions. For instance, if an employee receives compensation of $100,000 and makes a salary deferral contribution of $10,000 to a SIMPLE IRA or other retirement plan, the SIMPLE contributions must be based on $100,000 and not $90,000.