How does Advisors 401(k) help us keep our 401k in synch with IRS regulations?
We’ve built several safeguards into the Advisors 401(k) run-it-yourself 401k system to help you keep your 401k in line with ever-changing IRS regulations: We program relevant IRS regulations about contribution limits and compliance testing, among other things, into your Advisors 401(k) software. For instance, the software won’t let you enter a contribution for a participant that will push the participant’s year-to-date contribution total over the allowable maximum (and it tells you how much, if anything, the participant CAN contribute without exceeding the maximum). Advisors 401(k) runs the all-important ADP (average deferral percentage), ACP (actual contribution percentage), multiple-use and top-heavy compliance tests that every 401k plan must pass at year’s end. Although your plan only has to pass these tests at the end of the plan year, Advisors 401(k) can run year-to-date tests as often as you like (we recommend monthly) so you can spot non-compliance trends — long before mandator
