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July provides custom plan design to meet your goals.
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New Comparability Plans have become popular in recent years because they allow highly compensated employees and business owners to receive larger contributions than traditional retirement plans while keeping employee funding costs to a minimum.
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| Discretionary Contributions. They offer discretionary contributions allowing employers to increase or decrease contributions annually. |
| Designed to Maximize Contributions. They can be designed to allow business owners to receive the maximum contribution permitted in a defined contribution plan (currently $46,000 with catch-up contributions). |
| IRS Approved. New Comparability Plans are approved by IRS. To maintain their qualified status, they must pass the General Nondiscrimination Test each year. |
| 401(k) Option. They can be structured as a stand-alone profit sharing plan or can include a 401(k) feature allowing for employee salary deferrals. |
| Safe Harbor 401(k) Option. Many 401(k) / New Comparability Plans include safe harbor provisions making them even more beneficial. |
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