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Finding the right fit!
Basic vs Custom Plan
|
Family Only 401k
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1-Person Defined Benefit Plan
Family Only 401k
401k Deferrals of $15,500 to $20,500* each Plus Employer Contributions of up to 25% of pay
* includes projected "catch-up" contributions of $5,000
Contributions
Age
Salary
Employer
401k
Totals
Dad
50
$ 118,000
$ 29,500
$ 20,500
$ 50,000
Mom
48
$ 22,400
$ 5,600
$ 15,500
$ 21,100
Son
25
$ 40,000
$ 10,000
$ 15,500
$ 25,500
TOTALS
$ 180,400
$ 45,100
$ 51,500
$ 96,600
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