I have a s-Corp with 5 employees along with me the owner. We set up 401k with paychex our payroll company. Currently 100% match for first 3% and 50% match for next two percent.
My employees make between $30-45k/yr. only two participate in the plan.
Was thinking of increasing match to 6% for 100% match of first 6%.
Is this possible? I have my w2 income set at 130k for 2017 and likely 180k for 2018.
My employees make between $30-45k/yr. only two participate in the plan.
Was thinking of increasing match to 6% for 100% match of first 6%.
Is this possible? I have my w2 income set at 130k for 2017 and likely 180k for 2018.
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