Retirement Plans

Question 0

HC - EE - 414(q)

Answer 0

5% owner (owns greater than 5% of company)

Compensation >$115,000

Question 1

Retirement Plan Limits

Answer 1

1. Defined Benefit Max Limit - $205,000
2. Defined Contribution Plan Limit:
   a. Dollars $51,000
   b. Percent 100%
3. Section 401k, & 403B limits $17,500
   a. Catch up $5,500

Question 2

Key EE - 416

Answer 2

Officer >$165,000 or more
Greater than 1% Owner >$150,000 or more
Greater than 5% Owner Compensation

Question 3

Simple

Answer 3

Simple:
Annual contribution: $12,000
Catch up $2,500

Question 4

SEP Plan Contribution

Answer 4

a. Minimum earnings required for EE eligibility $550.00
b. Max. compensation that can be taken into $225,000
account when determining contributions