What is New Comparability?
Enables owners and highly compensated employees with the flexibility to receive higher percentages of employer profit sharing contributions than all other eligible staff. New comparability (also known as new comp) plans are perfect for:
* Physical therapists
* Real estate agents
* Venture capitalists
* Technology firms
* Professional service providers
* And more!
New Comparability added in your 401(k) Plan offers you:
* Save up to $66,000 + $7,500 if you’re 50 or older
* Flexible contributions from year to year
* Fantastic tax deductibility
* Easy & low cost
* First 3 years setup and admin fees may be covered by updated Secure 2.0 tax credits
Why Our Customers Love New Comparability
You can opt to offer a profit share on a good year and forego or reduce it during lean years or years of heavy investment in your business. Contributions can easily increase or decrease from year to year at employer’s discretion, depending on their business situation and goals.
2. High contribution limits:
Owners can receive higher percentages of employer contributions in a new comp plan.
3. Rewards older / highly compensated employees:
You now have the ability to save significantly more money faster, which will help decrease the time to your own retirement! You’ve earned it and deserve this opportunity.
Remember we are the #1 Ranked 401(k) Provider to SMBs!