After the end of each year, ARS, Inc. performs 401(k) Discrimination Testing for retirement plans. For plans with a December 31, 2020 year end, we are now offering the option to run a preliminary 401(k) Discrimination Test before year end. Some reasons to have preliminary testing prepared are.
- more opportunity for tax planning
- awareness of potential testing failures early so action can be taken before year end
- assistance with the safe harbor election before year end..
For details on having preliminary testing prepared, contact your ARS Plan Administrator. Note: if your plan is safe harbor, other than safe harbor maybe, preliminary testing is not needed for your plan.