As we’re now officially in 2021, you may have questions about your 401(k) plan sponsor obligations for the new year. Your employees, as well, may need 401(k) guidance — especially those reeling from the COVID-19 pandemic.

In this Q&A, we address the responsibilities, options, and uncertainties surrounding 401(k) plans in 2021. These include:

401(k) contribution limits Traditional 401(k) Roth 401(k) Safe harbor 401(k) SIMPLE 401(k) Nondiscrimination testing Form 5500 reporting The SECURE Act Pandemic-related guidance What are the 401(k) contribution limits for 2021?

The chart below represents traditional, Roth, and safe harbor 401(k) plans.

SIMPLE 401(k) plan

Business Roadmap

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