QUALIFIED AUTOMATIC CONTRIBUTION ARRANGEMENT
01.Core Concepts
(QACA) (2 OF 2) Automatic Deferral: Max is 15% after 2019 (SECURE Act) • Year 1 At least 3% • Year 2 At least 4% • Year 3 At least 5% • Year 4+ At least 6% • Matching Contribution or Nonelective Contribution of 3% • ER match (NHC): 100% up to 1% plus 50% between 2% - 6% • ER rate of match (for elective deferrals) for HC is not greater than for NHC. • Vesting – 2-year cliff