Retirement Plan Comparison

 

Feature

Traditional 401(k)

401(k) Safe Harbor

Profit Sharing

Simple IRA

Can Amend to a Traditional 401(k)

 N/A Yes Yes No

Maximum Employee Deferral* (for pretax and Roth)

 $16,500 $16,500 N/A $11,500

Roth 401(k) Contribution Option

 Yes within deferral limit Yes within deferral limit N/A No

Catch-up Contributions (for participants 50 or Older)

 $5,500 $5,500 N/A $2,500

Employer Contribution

 Employer option Tiered match
  • 100% up to 3% and 50% of the next 2%, 4% maximum; or
  • Non-elective contribution of 3% to all eligible participants
 Discretionary, 25% up to $49,000 per individual* 100% up to 3%; or 2% non-elective contribution

Vesting

 Options available Immediate (Safe Harbor contributions)

Options available (other contributions)		 Options available Immediate

Loans

 Yes Yes Yes No

ADP/ACP Testing

 Yes No No No

Top-Heavy Testing

 Yes Generally satisfied Yes No

Investment Providers

 Choice of many Choice of many Choice of many Single

Compatible with Money Purchase and Profit Sharing Plans

 Yes Yes N/A No
* Limit indexed annually by the IRS

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MacLean Surgical Instruments

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