Compare: 401(k) Retirement Savings Account
| P.A.C.E.
Warranted W-2™ |
Traditional Staffing Vendor
|
Waiting Period
There is NO waiting period, and contributions are vested immediately. |
Waiting Period
Usually a 90 to 180-day waiting period for all employees, if plan is available at all. |
Participation
All P.A.C.E. employees participate. |
Participation
Participation is voluntary, if available at all.
|
Employee Contribution Limit
Employees may elect to contribute in 2007 up to $15,500 ($20,500 if age 50+) from their gross wage.
|
Employee Contribution Limit
Often less than what the IRS allows. |
Employer Contribution
Employer contributions are funded by the employee’s revenue stream.
P.A.C.E. makes a safe harbor contribution equal to 3% of gross wage plus a matching contribution of two dollars for each one dollar the employee contributes from gross wage. |
Employer Contribution
NOT available. |
Maximum Contribution
The maximum combined annual contribution in 2007 is $45,000 ($50,000 if age 50+).
This is the highest possible individual contribution allowed by the IRS for a 401(k) retirement savings plan. |
Maximum Contribution
Often limited to the employee's elective contribution, if available at all. |
Investment Options
P.A.C.E. offers virtually unlimited investment opportunities and unparalleled employee support.
|
Investment Options
Generally very limited investment opportunities.
|
