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Retirement Programs

Retirement Programs

View the detailed retirement plan comparison here.

General
Employer Information
Type of Plan Eligibility Features
401(k)
  • Businesses
  • Partnerships
  • S- and C- corporations
  • Nonprofit groups (no governmentals)
  • Typically more than 25
    employees

    *(S-corporations and C- corporations are two different types of legal structure and each are subject to different tax rules)

    		•
  • Permits pre-tax and after-tax
    salary deferral contributions.
  • Employer matching is allowed
    and may be discretionary
  • Vesting schedule set by
    employer
    		•
    Safe Harbor 401(k) Salary Deferral Plan
  • Businesses
  • Partnerships
  • S- and C- corporations
  • Nonprofit groups (no governmentals)
  • Typically more than 25
    employees

    *(S-corporations and C- corporations are two different types of legal structure and each are subject to different tax rules)

    		•
  • Permits pre-tax and after-tax salary deferral contributions
  • No discrimination testing
    required
    		•
    SIMPLE 401(k) Salary Deferral Plan Fewer than 100 employees who earned at least $5,000 in the last calendar year
  • Permits pre-tax salary deferral
    contributions
  • No discrimination testing
    required
    		•
    Profit Sharing Plan
  • Businesses with variable
    earnings
    		•
  • Allows flexible contributions
    		•
    Defined Benefit Plan
  • Businesses with stable
    earnings
  • Owners who are close to
    retirement
    		•
  • Maximum contributions
  • Fixed payments at retirement
    		•
    403(b) Tax Sheltered Accounts
  • Universities
  • Colleges
  • Churches
  • Schools
  • Non-profit hospitals
  • Health organizations
  • Non-profit 501(c)(3) groups
    		•
  • Permits pre-tax and after-tax salary deferral contributions
    • Section 457 Deferred Compensation Plan
  • Government
  • Certain non-profit organizations
    		•
  • Permits pre-tax salary deferral
    contributions
    • SIMPLE IRA Salary Deferral Plan
  • Self-employed persons
  • Partnerships
  • S and C corporations
  • Non-profit, tax-exempt and
    governmental entities

    (Different types of legal structure and each are subject to different tax rules)

    		•
  • Easy administration
  • No plan administration fee
  • No annual Form 5500 filing
    • SEP IRA - Simplified Employee Pension
  • Self-employed persons
  • Partnerships
  • S- and C- corporations
  • Non-profit groups

    *(S-corporations and C- corporations are two different types of legal structure and each are subject to different tax rules)

    		•
  • Easy administration
  • No annual Form 5500 filing
    		•
    * For 2007 tax year and subject to change