Steamboat Posted January 25, 2021 Posted January 25, 2021 We want to time auto-escalate at the same time as annual salary increase to help/encourage employees to increase 401(k) plan contributions up to our 6% match. Is that okay to do mid-year? June 1 is the salary increase date.
ACK Posted January 28, 2021 Posted January 28, 2021 Yes you may auto escalate mid-year as long as you comply with the notice requirements for participants.
david rigby Posted January 28, 2021 Posted January 28, 2021 On 1/25/2021 at 10:47 AM, Steamboat said: ... annual salary increase ... I'm not familiar with this term. I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
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