| Feature | Money purchase | Profit-sharing | 401(k) | SIMPLE 401(k) | 403(b) |
| Restrictions on adopting? | Generally, none. | Generally, none. | Generally, none. | Available only to employers with 100 or fewer employees earning $5,000 in previous year. | Limited to public schools, charitable organizations and churches |
| Can an employer maintain other qualified plans? | Yes. | Yes. | Yes. | No. | Yes. |
| Minimum age or service requirement? | Age 21, up to 2 years’ service may be imposed. | Age 21, up to 2 years’ service may be imposed. | Age 21, up to 2 years’ service may be imposed. No more than one year of service may be required for employee deferrals. | Same as 401(k). | Same as 401(k) for employer contributions. Universal availability for salary deferrals. |
| Vesting? | Yes. Graduated or cliff vesting allowed. | Yes. Graduated or cliff vesting allowed. | Yes. Employer contributions; graduated or cliff vesting allowed. Employee contributions are 100 percent vested. | 100 percent immediate vesting. | Same as 401(k). |
| Annual contributions required? | Yes. Mandatory as set forth in the plan. | No discretionary. | No discretionary. | Yes, for SIMPLE feature. To qualify as a SIMPLE 401(k) and avoid the ADP testing, an employer contribution is required. | Same as 401(k). |
| Limit on deductible employer contributions? | Maximum 25 percent of compensation, up to Section 415 dollar limit: $56,000 for 2019, $55,000 for 2018, $54,000 for 2017, $53,000 for 2015 and 2016. | Same. | Same. | Limited to required matching or nonelective contributions. | Same generally, some attributes that allow for higher limits. |
| Top-heavy rules apply? | Yes. | Yes. | Yes. | No. | Yes to employer contributions. |
| Nondiscriminat ion rules apply? | Yes. | Yes. | Yes. Special rules apply to employee deferrals. | No. | Yes. To employer contributions. |
| Employee deferrals allowed? | No. | No. | Yes. Employee deferrals limited to lesser of 100 percent of compensation (net of deferrals). | Yes. Employee deferrals are limited. | Same as 401(k). |
| Limit on employee deferrals? | N/A | N/A | $19, 000 for 2019, $18,500 for 2018, $18,000 for 2015, 2016, and 2017. | $13,000 for 2019, $12,500 for 2015, 2016, 2017, and 2018. | Same as 401(k). |
| Permitted disparity allowed? | Yes. | Yes. | Yes. | No. | Yes. For employer contribution. |
| Minimum coverage rules apply? | Yes. | Yes. | Yes. | Yes. | Yes. For employer contribution. |
| Annual additional limit of IRC Sec. 415 apply? | Yes. | Yes. | Yes. | Yes. | Yes. For employer contribution. |
| Participant loans allowed? | Yes, if specified in plan document. Subject to IRS limitations. | Yes, if specified in plan document. Subject to IRS limitations. | Yes, if specified in plan document. Subject to IRS limitations. | Yes, if specified in plan document. Subject to IRS limitations. | Yes, if specified in plan document. Subject to IRS limitations. |
| Rollovers to other plans allowed?13 | Yes. | Yes. | Yes. | Yes. | Yes. |
| Annual report (Form 5500 series) required? | Yes, unless one-participant/$250,000 exception is met. | Yes, unless one-participant/$250,000 exception is met. | Yes, unless one-participant/$250,000 exception is met. | Yes. | Yes. |
| Age 50+ Catch Up contribution permitted? | No. | No. | Yes, $6,000 for 2015 through 2019. | Yes, $3,000 for 2015 through 2019. | Yes. Same as 401(k). |
