Compare Retirement Plans

Traditional 401(k) and Solo 401(k)

Maximum Employee Deferral Amount: 100% of income up to $18,000*

Roth Contributions are available within a deferral limit.

Catch-up Contributions (for plan participants age 50+) $6,000*
Employer contribution amounts are decided by the employer.

Vesting options are available.

Loans are available.

ADP/ ACP Testing applies.

Top Heavy Testing applies.

You can choose your investment providers or use Blosser Harrison Wealth Management integrated services.

Are comparable with Money Purchase and Profit Sharing plans.

*Indexed by the IRS

401(k) Safe Harbor

Can change to traditional 401(k)

Maximum Employee Deferral Amount: 100% of income up to $18,000*

Roth Contributions are available within a deferral limit.


Catch-up Contributions (for plan participants age 50+) $6,000*
Matching of 100%, up to 3% and 50% of the next 2%, or None elective contribution of 3% of compensation to all eligible participants.


Vesting is immediate - other options available.

Loans are available.

ADP/ ACP Testing does not apply.

Top Heavy Testing usually does not apply.

You can choose your investment providers or use Blosser Harrison Wealth Management integrated services.

Are comparable with Money Purchase and Profit Sharing plans.

*Indexed by the IRS

Profit Share Plans

Can amend to a Traditional 401(k).

Maximum Employee Deferral Amount: 100% of income up to $53,000 for defined contribution plans. (415(c) limit)

No Roth.

No catch up provision.

Vesting options are available.

Loans are available.

ADP/ ACP Testing does not apply.

Top Heavy Testing applies.

You can choose your investment providers or use Blosser Harrison Wealth Management integrated services.

Compatibility with Money Purchase or Profit Share does not exist. 

*Indexed by the IRS

IRA

Traditional and Roth IRA contribution limit $5,500

Catch-up limit for individual sage 50 and older $1,000

 

*Indexed by the IRS

SIMPLE IRA

Elective deferral limit $12,500

Catch-up limit for individual age 50 and older $3,000

Maximum employer match ($1 for $1 match on the first 3% of employee compensation deferred).

*Indexed by the IRS

SEP IRA

Maximum SEP contribution $54,000

SEP compensation exclusion $600

Only the employer contributes to the account, and there are generally no filing requirements. 

Contributions are made on a pre-tax basis, lowering the employees taxable income for the year of the contribution.

*Indexed by the IRS

 

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