Paired Profit Sharing and Money Purchase Plan useful for businesses of all sizes and self-employed individuals. This plan combines the best features of the Profit Sharing and Money Purchase plans. Employer contributions to the money purchase plan portion are mandatory while contributions to the profit sharing portion are discretionary. Retirement Savings Plan well-suited for larger businesses with 15 or more employees. These are employer-sponsored plans that allow payroll deductions for participant contributions.
Participants make elective pre-tax salary deferrals, with established maximum limits annually.
Larger employers, with 500 to 5,000 plan participants, should click here to learn about The Bank of New York's Retirement Plan Service, VestedChoice . SIPC protects against members business failure but not against loss of principal investment, nor is it equivalent to FDIC insurance. BNY Investment Center Inc. The Bank of New York or an affiliate receives compensation for serving as the investment advisor for and providing other services to the BNY Hamilton Funds. Please consult your tax advisor regarding your situation. VestedChoice is a registered service mark of The Bank of New York.