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Defining 401k Elements - is Base Plan configuration or stand-alone elements better?
in Benefits
Summary:
Trying to streamline our 401k plan and it has stand-alone elements however we are having issues with elements stopping when maximum limits are reached. Is it better to have the Base Plan configuration or are the stand-alone elements better?
I need to add the Special Catch-up plus we are reinstating the Auto Enroll Feature which I would like to automate.
Content (please ensure you mask any confidential information):
We have 16 elements for the 401k.
401k Pre-tax: Percentage & Flat dollar (2 elements)
Roth - Percentage and Flat Dollar (2 elements)
Catchup - pre-tax & Roth Percentage; pre-tax & Roth flat amount (4 elements)
Special Catchup (need to add) - pre-tax & Roth; pre-tax & Roth Flat Amount (4 elements)
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