To help you narrow your search for a retirement plan that is right for your business, select from the categories below.
You may also visit Types of Plans on IRS.gov to learn more about these and other available retirement plans or consult a benefit plan advisor.
For a side-by-side comparison of plan features, see the Plan Comparison Table. Or, if you want more information about a type of plan, select it at the bottom of this or any page on this site.
- Participant’s retirement benefits based on participant’s account balance
- Some plans may allow employees to contribute
- Depending on the type of plan, employer may be required to make annual minimum contributions
- Contribution limits of $5,000 to $50,0001, depending on the type of plan
- Depending on the type of plan, must cover some or all of the employees in all your businesses
- Easy to set up and operate
- No annual return required
- Annual nondiscrimination testing not required
- Little design flexibility
- No loans allowed
- Immediate vesting of all contributions
- Participant's retirement benefits based on participant’s account balance
- May allow employees to contribute through salary deferrals
- Depending on the type of plan, employer may be required to make annual minimum contributions
- Contribution limits of up to $50,0001 or more if catch-up contributions
- Must meet minimum coverage tests but can exclude some employees
- More complex to set up and operate
- Annual return usually required
- May require annual nondiscrimination testing
- Greater design flexibility
- Loans and hardship withdrawals allowed
- May delay vesting of some employer contributions
- Participant's annual retirement benefit determined by the plan's benefit formula
- Higher annual retirement benefits possible, up to $200,0001 per year
- Actuary required to determine employer's annual contributions
- Must meet minimum coverage tests but can exclude some employees
- Most complex to set up and operate
- Annual return required
- Annual nondiscrimination testing required
- Greater design flexibility
- Plan may allow loans
- May delay vesting of participants' accrued benefit
Plan options if you are a public school, college or university, tax-exempt organization, or a state or local government entity.
1Dollar limits are for 2012 and are subject to cost-of-living adjustments for future years.
