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.
When pretax salary reduction is allowed, the plan must follow rules for 401(k) arrangements (see chapter 8 for a discussion of 401(k) plans). TaxationâEmployer contributions to a profit-sharing plan are deductible by the. company as a business expense (up to the limits noted previously).