The Price Company has over 35 years of experience in designing, installing & administering qualified retirement plans for corporations, partnerships, and the self-employed. The firm’s highly trained staff focuses on assisting clients in obtaining their financial goals through the unique regulatory environment of qualified retirement plan administration. As an enrolled agent, Philip Price is authorized to represent any client before the Internal Revenue Service.
In a money purchase plan, the annual employer contributions are defined. The annual contribution limit for any participant is the lesser of $61,000 or 25% of the participant’s total compensation. The dollar amount is increased by the government each year for cost of living adjustments.
Annuities
403(b) plans are also known as tax sheltered annuities or TSAs. This type of plan is only available to the employees of tax-exempt charitable organizations or public schools. Like 401(k) plans, TSAs can accept pre-tax contributions for employees as well as employer matching and discretionary contributions.