Retirement Plans We Service

DEFINED CONTRIBUTION PLANS*

Providing an individual account for each participant, most of these plans have discretionary contributions, with a few exceptions that provide for a mandatory contribution formula such as a Money Purchase Plan or a Target Benefit Plan.

  • PROFIT SHARING PLANS (view right)

Cash or Deferred Section 401(k) Plan (click)

401(k) Safe Habor (click)

*Designed and serviced by American Pension Consultants

Sliders

DEFINED BENEFIT PLANS*

A plan that is designed to provide participants with a definite benefit at retirement. The benefit formula is specified in the plan’s documentation. An actuary calculates plan contributions and distribution amounts. The calculations are based on the benefits provided, participant ages, and other factors and assumptions. Defined Benefit plans include both traditional benefit formulas and non-traditional arrangements, such as cash balance.

*Designed and serviced by American Pension Consultants

Options

PROFIT SHARING PLANS

A type of defined contribution plan under which the employer agrees to make discretionary contributions (usually out of profits). Retirement benefits are based on the amount in the participant’s individual account balance at retirement. The account balance depends on contributions made and earnings credited through the years.

Cross-Test & Age -Weight Plan (click)

*Designed and serviced by American Pension Consultants.

Internal Revenue Code Limits

The IRS annually adjusts qualified retirement plan limits for increases in the cost of living. The following table lists the 2017 and 2016 limits.

401k Plan Limits for Year

2022

2021

 2020

401k Elective Deferrals

$20,500

$19,500

$19,500

Annual Defined Contribution Limit

$61,000

$58,000

$57,000

Annual Compensation Limit

$305,000

$290,000

$285,000

Catch-Up Contribution Limit

$6,500

$6,500

$6,500

Highly Compensated Employees

$135,000

$130,000

$130,000

Non-401k Related Limits

2022

2021

2020

403(b)/457 Elective Deferrals

$20,500

$19,500

$19,500

SIMPLE Employee Deferrals

$14,000

$13,500

$13,500

SIMPLE Catch-Up Deferral

$3,000

$3,000

$3,000

SEP Minimum Compensation

$650

$650

$600

SEP Annual Compensation Limit

$305,000

$290,000

$285,000

Social Security Wage Base

$147,000

$142,800

$137,700

More About American Pension Consultants

WHAT WE DO

American Pension Consultants provides plan design and administration for both qualified and nonqualified retirement programs. American Pension Consultants works with clients who have, or are interested in, defined benefit plans. APC works with clients who have, or are interested in, defined contribution plans.

We pride ourselves on our approach that enables us to creatively design retirement plans that fit each client’s individual needs.

fotolia_115957204We believe the best way to serve our clients is to grow our business, one client at a time. Specifically, our goal of remaining a small operation allows us to continue to partner with each of our clients, provide personal service and focus strictly on their unique needs.

As such, we have invested in resources and technology that help our clients succeed by increasing accuracy, productivity, compliance, and most importantly, profitability. Thus we also work with multiple investment companies to provide our clients with options that fit their needs.

fotolia_115957204We strive to provide an honest analysis of our clients’ needs, ensuring that they understand and choose the best available plan options.

We are continually educating ourselves on the rules of the tax code, ensuring that we find the maximum tax-deductible contribution for our clients.

We believe our strategy, along with our strong commitment to our clients promotes the creation and ongoing health of pension programs for businesses and their employees – employees who might otherwise go without pension coverage.

  • Plan Design
  • Annual Administration
  • Implementation
  • Distribution Processing
  • Plan Terminations
  • Comprehensive Compliance