Kurt S. Altrichter - Retirement Plan Options

1. Feature / Rule 401(k) SIMPLE IRA SEP IRA
Business Size Any size business Businesses with 100 or fewer employees Any size business
Eligibility Restrictions Customized Any employee making $5,000
Age 21, 3/5 years of service, $650
compensation
Who can contribute Employee and Employer Employee and Employer Employer Only
Plan Design Customized Boiler Plate Boiler Plate
Employer Contribution Requirement Not required Required 3% Matching or 2% NEC up to 25% of net earnings to all employees
Employer Contribution Vesting Immediate or up to 6 years Immediate Immediate
Loans Possible Available Not Available Not Available
Investment Options
Customizable (mutual funds, ETFs, CITs),
Model Portfolios
Limited to the provider Limited to the provider
2021 Employee Contribution Limits
Under 50: $19,500 Under 50: $13,500
Employees cannot contribute
Over 50: $26,000 Over 50: $16,500
2021 Employer + Employee Contribution
Limits
$58,000 for 2021 Not applicable because of restrictions Not applicable because of restrictions
Costs Moderate Minimal Minimal
Roth Option Is available Not Available Not Available
After Tax Contributions Is available Not Available Not Available
Annual Testing Required if the plan is not Safe Harbor Not Required Not Required
Annual Filing Required to file Form 5500 annually Not Required Not Required
Tax Credits Available for Starting Plan
SECURE Act Tax credits available for first
three years
Not Available Not Available
2021 Retirement Plan Options
Kurt S. Altrichter, CRPS®
Fiduciary Retirement Plan Specialist | President
952.828.5336 | kurt@ivoryhill.com | ivoryhill.com