The Internal Revenue Service (IRS) has issued a publication, “Choose a Retirement Plan,” which offers a comparison of plan types available to employees of tax-exempt and governmental entities.
The publication includes a plan feature comparison chart with highlights of eight types of retirement plans—noting the latest tax laws specific to each plan.
For each plan type the guide answers such questions as:
- What is the maximum annual contribution?
- Are catch-up contributions allowed?
- What are the minimum employee coverage requirements?
- When do distributions begin?
The publication is here.
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