Plan Options
401k
The most popular plan type which allows employees to contribute through payroll deductions on a pre-tax or Roth basis. Potential add-on components include safe harbor provisions, employer matching contributions and automatic enrollment.
Profit Sharing & Money Purchase
These plans are funded soley by the employer. The contributions can be based on a fixed or discretionary formula and can vary by individual or employee group through the use of a new comparability design.
Traditional Defined Benefit
The traditional pension plan primarily designed to provide monthly lifetime income to retirees. These plans work best when looking for tax deductible contributions that are in excess of the normal limits of a Defined Contribution Plan.
Cash Balance Plan
A type of defined benefit plan that looks like a defined contribution plan from the participant’s perspective, though contributions can be much higher than in a Defined Contribution Plan.
ESOP
These plans are structured to allow employees to hold stock of the employer.