Business Retirement Plans
Money Purchase Plan
Employer Characteristics	All taxable business, government entities & tax-exempt organizations
Who Must Be Covered	Any employee with 1,000 hours of service within one year & who is age 21 or older can exclude certain employees. (Plans with two-years-of-service eligibility requirement must offer immediate 100% vesting).
Maximum Allocation 2010	25% of employee’s total pay or $49,000, whichever is less
Required Employer Contributions	Amount stated in the plan (same percentage contribution required each year)
Vesting	Vesting schedules available
Top-Heavy Testing Required	Yes
Who Controls Distributions	Employer through the plan terms
Advantage of this type of plan	Specified level of contributions

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