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401K plans In
the
A type of qualified retirement savings plan that is funded primarily by employer contributions payable from the employer’s profits. Money purchase pension plans A defined
contribution plan in which the amount of contributions each
employee receives from the employer is in proportion to that employee's wages. |
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SIMPLE Plans (Savings Incentive Match Plan for Employees) A qualified retirement plan that may be established by specified employers. An individual retirement arrangement (IRA) is established for each participating employee, and the employee agrees to reduce her compensation by a stated percentage each pay period and to have the employer contribute that amount to his/her IRA.
Allows
many employers to contribute the maximum $30,000 a year for themselves
and the minimum three percent of pay for other employees
and still pass nondiscrimination tests. In other words, new
comparability plans are nearly as flexible as nonqualified plans, but
offer the tax benefits of qualified plans. A pension plan that defines the amount of the benefit a plan participant will receive at retirement.
Securities
offered through Sunset Financial Services, Inc. (SFS), a wholly-owned
subsidiary of Kansas City Life Insurance Company.
Home Office: 3520 Broadway,
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