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elaws - employment laws assistance for workers and small businesses - Small Business Retirement Savings Advisor

Eligible Employees

After you have reviewed information about eligible employees, please return to the previous page.

Eligibility
Payroll Deduction IRA Should be made available to all employees.
SEP-IRA

Must be offered to all employees who are at least 21 years of age, employed by the business for 3 of last 5 years and earned at least $500 in a year.

Simple-IRA

Must be offered to all employees who have earned at least $5,000 in previous 2 years.

Safe Harbor 401(k) Must be offered to all employees at least 21 years of age who worked at least 1,000 hours in previous year.
Automatic Enrollment Safe Harbor 401(k) Must be offered to all employees at least 21 years of age who worked at least 1,000 hours in previous year.
401(k)

Must be offered to all employees at least 21 years of age who worked at least 1,000 hours in previous year.

Profit Sharing

Must be offered to all employees at least 21 years of age who worked at least 1,000 hours in previous year.

Defined Benefit

Must be offered to all employees at least 21 years of age who worked at least 1,000 hours in previous year.