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.
The term salary deferral is most commonly used to describe contributions to a 401(k) plan or 403(b) plan. However, contributions to a deferred comp plan are also a form of salary deferral. Here's how salary deferral and 401(k) deferral contributions work.