Investment Center
Products: Money Purchase Pension Plans
| Who may use | All types of businesses. |
| Who must be covered | Any employee with 1,000 hours of service within one year and who is age 21 or older. If immediate 100% vesting is offered, two years of service may be required. Can exclude certain employees. |
Annual contributions Required employer contribution |
Amount stated in plan document (same % contribution required each year). |
| Maximum contribution that the employer can deduct | 25% of employee’s pay (maximum eligible pay per employee is $200,000). |
| Maximum allocation to employee’s account | 100% of employee’s total pay or $40,000, whichever is less. |
| Maximum employee deferral | No deferrals allowed. |
| Vesting | Choice of immediate 100% vesting or a range of schedules. |
| Advantage | Fixed contribution required; easy to budget from year to year. |
Products: Profit Sharing Plans |
|
| Who may use | All types of businesses. |
| Who must be covered | Any employee with 1,000 hours of service within one year and who is age 21 or older. If immediate 100% vesting is offered, two years of service may be required. Can exclude certain employees. |
Annual contributions Required employer contribution |
Flexible contribution allowed each year (preset amount not required); however, employer must make “substantial and recurring” contributions. |
| Maximum combined contribution that the employer can deduct | 25% of total eligible payroll (maximum eligible pay per employee is $200,000). |
| Maximum allocation to employee’s account | 100% of employee’s total pay or $40,000, whichever is less. |
| Maximum employee deferral | No deferrals allowed without adding a 401(k) feature. |
| Vesting | Choice of immediate 100% vesting or a range of schedules. |
The Fair Housing Act prohibits discrimination in housing because of:
- Race or color
- National origin
- Religion
- Sex
- Familial status (including children under the age of 18 living with parents or legal custodians; pregnant women and people securing custody of children under 18)
- Handicap (Disability)
Enforce the Fair Housing Act and other civil rights laws to ensure the right of equal housing opportunity and free and fair housing choice without discrimination based on race, color, religion, sex, national origin, disability or family composition.
Major Goals
1. Reduce discrimination in housing by doubling the Title VIII case load by the end of 2000 through aggressive enforcement of civil rights and fair housing laws;
2. Promote geographic mobility for low-income and minority households;
3. Integrate fair housing plans into HUD's Consolidated Plans;
4. Further fair housing in other relevant programs of the Federal government; and
5. Promote substantial equivalency among state, local and community organizations involved in providing housing.