COMPARISON OF RETIREMENT PLANS - 2008

IRA

SEP

SIMPLE IRA

SIMPLE 401(k)

401(k)
SAFE HARBOR

401(k) PROFIT SHARING

PROFIT SHARING

DEFINED BENEFIT

Vesting Options

No

No

No

No

Yes

Yes

Yes

Yes

Loans Allowed

No

No

No

Yes

Yes

Yes

Yes

Yes

Own Trustee

No

No

No

Yes

Yes

Yes

Yes

Yes

Maximum Employer Deduction

$4,000

25%
of Payroll

Based on Mandatory Contribution

Based on Mandatory Contribution

25%
of Payroll

25%
of Payroll

25%
of Payroll

No Limit

Mandatory Contribution Required

No

No

2% of Payroll
Or 3% Match

2% of Payroll
Or 3% Match

3% of Payroll
Or 4% Match + Flexible

No

No

Yes

Allocation Method

N/A

Equal To All EE’s

Equal To All EE’s

Equal To All EE’s

Comp / Age / Class

Comp / Age / Class

Comp / Age / Class

Age / Wage

Maximum Individual Contribution

$4,000

25%
up to $45,000

$10,500+ Match
Or 2% ER Contribution

$10,500 Match
Or 2% ER Contribution

100% up to $15,500* + ER Contrib. Up To $45,000

100% up to $15,500* + ER Contrib. Up To $45,000

25%
up to
$45,000

At Retirement 100% Of Comp. $185,000
Per Year

Catch Up

$1000

No

$2,500

$2,500

$5,000

$5,000

N/A

N/A

Form 5500

No

No

No

Yes

Yes

Yes

Yes

Yes

Assets Free From Creditors

No

No

No

Yes

Yes

Yes

Yes

Yes