401(k) Plans w/safe harbor provisions

Employer Characteristics	All taxable business & tax-exempt organizations
Who Must Be Covered	Any employee with more than 1,000 hours of service within one year & who is age 21 or older; can exclude certain employees
Maximum Allocation 2011	Maximum eligible pay per employee is $16,500, plus an employer can match up to 3% of eligible pay.
Maximum Annual Employee Deferral 2011	Up to $5,500, catch-up contribution if 50 years of age or older
Required Employer Contributions	One of the following
Vesting	Vesting schedules available: -Basic match: 100% of participating contributions up to 3% of pay, plus 50% of participant contributions up to the next 2% of pay. -Enhanced Match: 100% of participant contributions, but no less than 4% of pay or more than 6% or different percentage of first percentage of pay & a lesser percentage of other portions of pay -Nonelective contributions 3% of pay for all eligible employees including those who did not contribute
Top-Heavy Testing Required	No
Who Controls Distributions	Employer through the plan terms
Advantage of this type of plan	-No discrimination testing -Employee deferral of current taxes available -More flexibility with contribution amounts due to increase in deferral limit