FAQ 225: Reports--Safe harbor contribution is not showing on plan specs


I have a plan that has a safe harbor match and a discretionary match. When I print out the Summary of Major Plan Provisions, it defines the profit sharing contribution, the match formula and employee deferrals, but nowhere does it define the safe harbor match. Why?

The only thing that I can come up with is because I imported the safe harbor match versus having the system calculate it.


Here's how to show your safe harbor on the Summary of Major Plan Provisions. Even though the 4% is coded in your safe harbor source specs, it won't print the wording on the Summary of Major Plan Provisions until there is a total contribution amount for that source stored in the plan specs on the Contributions (CONTRIB) screen in the Values section of the specs. The intent is not to print that there will be a contribution until it is actually calculated or processed from transactions.

Therefore, you will have to enter the total contribution amount on the Contributions screen in the plan specs (Values-CONTRIB) and enter the dollar amount under the safe harbor source. It will then print on the report under safe harbor.