I am trying to figure out the limits of a fixed match in a safe harbor 401k plan. I know I can contribute a fixed match up to 6% of eligible play, but can the match be something like 200% of up to 6% elective deferral (effectively end up being 12%... or even more)?
I am also a little confused by the difference between a fixed match and a discretionary match. Our plan is owner/spouse + one part time employee. My understanding is that the part time employee needs to get the same match as the owner/spouse.... is that correct, or is there different flexibility around different matches?
Also, attached is a spreadsheet I created for myself to help run through different scenarios. Obviously, not all types of contributions can be used together, but I have been using this to sanity test some numbers. Please let me know if this spreadsheet looks useful, or is completely off base. Any feedback is much appreciated!
Thanks a bunch!
401k.xlsx
