Advantages of Comparability Profit Sharing Plans
Your Advantages
You benefit because a new comparability profit sharing plan:
- Allows select groups to maximize contributions.
- Is an excellent alternative to or replacement for a defined benefit plan.
- Lets you vary your discretionary annual contributions up to 25% of net compensation.
- Lets you deduct your contributions from taxes as a business expense.
Employee Advantages
Plan members benefit because a new comparability profit sharing plan allows them to:
- Defer taxes on the amount saved and its earnings.
- Build retirement security.
