Pinnacle Plan Design is a third party administrator (TPA) for employer-sponsored qualified retirement plans. We specialize in retirement plan design, retirement plan administration and actuarial consulting. Pinnacle is proud to offer retirement plan administration services in Boston, MA (Massachusetts), as well as nationally.
Defined Contribution Plans
There are many different types of qualified retirement plans, and finding the right plan for the organization is the first step.
A profit sharing plan is a retirement plan to which an employer makes contributions on behalf of all (or some subset) of the eligible employees. The contribution amounts are discretionary. The employer decides each year the amount, if any, to be contributed to the plan. For tax deduction purposes, the company contribution cannot exceed 25% of the total compensation of all benefiting
employees. The maximum amount which can be allocated to any one participant is the lesser of 100% of the participant’s compensation or $61,000 in 2022.
The company contributions can be subject to a vesting schedule that provides that an employee’s right to the contribution becomes non‐forfeitable only after a period of time.
A 401(k) plan is an employer‐sponsored plan that allows eligible employees to make pre‐tax elective deferrals or post‐tax “Roth” contributions through payroll deductions. In addition to the 401(k) features, a typical 401(k) plan may provide discretionary employer profit sharing contributions to all (or some subset) of participants, matching contributions based on employees’ elective deferrals, or both.
Pinnacle Plan Design has a great amount of experience with the design and administration of both defined contribution and defined benefit plans Contact us to see which type
Contact: Third Party Administrator Boston
Pinnacle Plan Design is proud to offer retirement plan administration services in Boston, MA (Massachusetts), and surrounding areas including Arlington, Belmont, Brookline, Cambridge, Chestnut Hill, Lexington, Medford, Melrose, Somerville, Newton, Saugus, Waltham, and Watertown.