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Compare Retirement Plans2024-03-16T01:46:34-04:00

Compare Retirement Plans

Compare Retirement Plans

When it’s time to choose an employee retirement plan, you need to get it right the first time. Use this information to compare retirement plans, and contact us if you need some guidance.

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401(k) Plan
401 Employer Sponsored Plan
Self-Employed 401(k)
Individual
401(k) Plan
SEP IRA
Simplified Employee Pension Plan
SIMPLE IRA
Savings Incentive Match Plan
PDBP
Personal Defined Benefit Plan
CRA
Company Retirement Account
Number of Employees (including owners)2+1 (+ spouse)1 - 41 -100
Who can contribute?
Owner
Employee
Contributions
Electronic
Employerup to 25% of salaryup to 25% of salaryup to 3% match or 2% non-elective contribution7
Employeeup to 23k / 30.5kN/Aup to 16k/19.5kx
Max amount69k/76.5kx69kxvaries
Withdrawals
 Once a triggering event has been reached (10% penalty may apply)Anytime (10% penalty may apply)Anytime (10% or 25% penalty may apply)
Tax credits & Fees
Account feesNo account fees or minimums to open an accountNo account fees or minimums to open an account No account fees or minimums to open an account
Tax creditsN/A
401 Employer Sponsored Plan2023-10-10T03:19:53-04:00

Contributions limits for

Employers may contribute up to 25% of compensation, up to a maximum of $61,000 in

Employees may contribute up to $22,500 for ($27,000 if 50 or older)

The total employer and employee contributions cannot exceed $61,000 in

Investment Options

A wide range of mutual funds, stocks, bonds, ETFs, and more.

Company Retirement Account (CRA)2023-10-10T02:14:59-04:00

Contributions limits for

Determined by your existing plan.

Investment Options

Full range of investment options.

Savings Incentive Match Plan (SIMPLE IRA)2023-10-10T02:22:38-04:00

Contributions limits for

Participants may contribute up to 100% of compensation with a maximum of $14,000 for ($17,000 if 50 or older)

Employer contributes either a matching or a non-elective contribution

Investment Options

A wide range of mutual funds, stocks, bonds, ETFs, and FDIC-insured CDs.

Only certain fund families have mutual funds that are eligible investments for SIMPLE IRAs with no minimum initial investment requirement.

Simplified Employee Pension Plan (SEP IRA)2023-10-10T02:13:23-04:00

Contributions limits for

Flexible annual funding requirements

Employers may contribute between 0% and 25% of compensation up to a maximum of $58,000 for and $61,000 for

Eligible employees must receive the same percentage.

Investment Options

A wide range of mutual funds, stocks, bonds, ETFs, and FDIC-insured CDs.

Individual 401(k) Plan2023-10-10T03:13:04-04:00

Contributions limits for

Maximum combined contribution, including salary deferral, cannot exceed $58,000 for tax year (or $64,500 if age 50 or over); $61,000 for tax year 2022 (or $67,500 if age 50 or older)

Make profit-sharing contributions up to 20% of your self-employment income, up to a maximum of $58,000 for 2021 and $61,000 in .

Make a pre-tax salary deferral up to $19,500 for 2021 and $20,500 for (or $26,000 for 2021 and $27,000 for if age 50 or older).

Investment Options

A wide range of mutual funds, stocks, bonds, ETFs, and more.

Personal Defined Benefit Plan (PDBP)2023-10-10T02:15:35-04:00

Contributions limits for

Funded with employer contributions only. Must be funded annually.

Annual contribution levels are calculated based on age, compensation, and expected retirement age.

Plan contributions are adjusted each year and may be amended (for additional fees) if the desired contribution level needs to be revised.

Investment Options

Stocks, bonds, mutual funds, exchange-traded funds (ETFs), and certificates of deposit (CDs).

Call

800-832-8514

Locate

Appointments

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