What is a New Comparability profit sharing plan?
• allows different allocations among different groups of plan participants; • may allow groups to be determined by salary, service, position, or even a combination of these categories; • may allow the owner to receive a much larger allocation, as a percentage of pay, than other plan participants; • may allow the owner to receive an allocation of up to 25% of salary into the plan on an annual basis; and • may allow an owner to select those participants he would like to reward with larger allocations.
