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Side-by-side Solution Comparison: Contributions

Use the table below to compare contributions under each of these retirement solutions. Click on the feature to learn more about it.

Feature
Full-Service 401(k)
Internet 401(k)
SIMPLE
SEP
PDP
Employee Contributions
Yes
Yes
Yes
No

Yes
(required)

You Match Employee Contributions
Yes

May be
(required)

Yes*
N/A
No
You Make Other Contributions
Yes
Yes
Yes*
Yes
(required)
No
Maximum Employee Contributions
$11,0001,2
$11,0001,2
$7,0001,2
N/A
$3000

* One or the other is required, but not both.

1 For purpose of maximum contributions (2002 tax year), compensation is limited to $200,000.

2 Individuals age 50 and over are allowed to make catch-up contributions as defined by Congress.

 

 

 

 

 

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Principal Life Insurance Company, Des Moines, IA 50392-0001, USA.