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What is the maximum profit-sharing contribution that can be made to a participant’s account?

Your company’s profit-sharing contribution depends on the type of company you have. For corporations and sole proprietorships, please see IRS guidelines.

Does the “catch-up” contribution apply to me?

If you are age 50 or older, you can contribute an additional [catchup_50_or_older() {] (for ) in individual pre-tax or after-tax contributions.

If two people are in a Single(k) plan, do both have to contribute?

Individual contributions to Single(k) are voluntary. If the company chooses to make a profit-sharing contribution, the contribution must be given to all eligible participants.

How much can I save in Single(k)?

You can save up to [contribution_total_employee() {] per year in individual contributions — either pre-tax or after-tax (Roth) contributions, or both ([contribution_total_50_or_older() ] for those age 50 or older). Although it’s not required, you can make a profit-sharing contribution for a total contribution of up to [contribution_total_individual() {] per individual (or [contribution_total_individual_50_or_older() {] for those…