Vendor Updates Plan Design Program with New IRS Limits

December 15, 2004 ( - An Indianapolis company has released an updated version of its QP-SEP illustrator software.

According to a news release from GSL Galactic Consulting, the program allows employers and their advisors to design and illustrate contribution allocations under profit sharing, simplified employee pension (SEP) and salary reduction SEP (SARSEP) plans.

The latest version reflects the cost-of-living adjustments to the plan dollar limits recently announced by the Internal Revenue Service (IRS), the announcement said.

The news release said the program automatically calculates net earned income, self-employment tax, integration specials, actual deferred percentage, top-heavy status and limitation on contributions and their tax deductibility. The latest version includes a new installation option for Windows-based systems and is network ready, the company said.

More information is at .