Administrator Testing |
None. |
Establishment |
All plans must have a written plan document. |
Employee Contribution Limit |
Maximum employee deferral is the lesser of 100 percent of income after application of FICA or $18,000. |
Catch-Up Contribution |
Up to $6,000 for participants age 50 or older. |
15 Years Special Salary Deferral Contribution |
You may have the potential to contribute up to an additional $3,000 per year, with a life time limit of $15,000. Special rules apply. |
Employer Contributions |
Churches may provide an employer discretionary or match up to 25 percent limit combined. |
Vesting |
Employee contributions are 100 percent vested. |
Loans Available |
Yes, if employer elects in the Plan Adoption Agreement. |
Employee Eligibility Requirements |
Universal coverage of employees required. |
Total Employee/Employer Maximum Contribution |
$53,000 (churches only). |
Total Employer/Employee Maximum Contribution With Catch-Up |
$59,000 (churches only). |