Profit Sharing Plans help you provide a strong incentive to employees to increase profitability by linking contributions to business performance. Flexible plan design gives you discretion in the amount contributed annually and in selecting a vesting schedule.
Profit Sharing Plan Benefits
Employer contributions are tax-deductible to your business up to 25% of total payroll compensation
Annual contributions can go as high as 100% of an employee's compensation or $45,000, whichever is less
You can establish a vesting schedule of up to seven years (six years for matching contributions)
May be limited to full-time employees at least 21 years of age who have completed at least one year of service with your company (two years if vesting is immediate)
Comprehensive array of plan services and dedicated, responsive service team simplifies administration
Employees gain a sense of ownership by sharing in company profitability and success
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