Money Purchase Pension Plans

A money purchase pension plan is a type of defined-contribution plan that is similar to a profit-sharing plan, except that they require fixed annual contributions from the employer to the employee’s individual account.

Retirement Plan

Who Can Have Money Purchase Plans?

Businesses of any size can offer money purchase plans to employees, and they can be designed very simply or more complex depending on the company’s needs.

What are the contribution limits?

In 2019, the maximum that an employer can contribute is limited to 25% of the compensation of all eligible participants or $56,000, whichever is less. Contributions made to money purchase plans are tax-deductible to the employer and tax-deferred for the employees. Investments grow tax-free until money is withdrawn in retirement.

What sets us apart from other TPA’s?

  • We sit down with our clients to customize a plan to fit their specific needs.
  • With one TPA assigned to your plan, you receive personalized service and a relationship is built with you, your employees and your TPA.

Let us exceed your expectations. Contact Jen Burnett at (888) 388-1040 to learn more.

 

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