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Money Purchase Pension Plans
Due to law changes, Money Purchase plans are no longer needed for deduction purposes. They are used in today’s environment fairly frequently as zero percent formulas to house the assets of terminated Profit Sharing, 401(k) or Defined Benefit plan to preserve the creditor protection.
Active Money Purchase plans have a plan formula setting forth both the contribution and the allocation of the monies. These formulas can be changed from time to time but are essentially required contributions.
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