Business / Taxes / Money Purchase Plan: A money purchase plan is a defined contribution retirement plan that requires the employer to contribute a fixed percentage of each employee's salary every year the plan is in effect. The contributions must be made regardless of how well the company does in a given year. In contrast, in profit-sharing plans, the employer's contribution is more flexible because it is based on annual profits. However, some small-company employers or self-employed people create a paired plan that combines money purchase with profit sharing. Paired plans require them to add at least a minimum percentage of each employee's salary to the plan each year.
Money Adjective Synonyms: resources, wealth, fortune, funds, capital, wherewithal, affluence, means, (liquid) assets, riches, bundle
Money Noun Synonyms: currency, legal tender, medium of exchange, specie, (hard) cash, ready money, banknotes, paper money, notes, bills, coin(s), change, small change, (filthy) lucre, pelf, shekels, lolly, readies, folding money, cold (hard)
Plan Noun Synonyms: design, layout, blueprint, scheme, method, procedure, system, arrangement, programme, project, formula, pattern, script, scenario
Purchase Verb Synonyms: buy, acquisition
Purchase Noun Synonyms: buy, acquire, procure, obtain, get, secure, pay for
Business / Taxes / Qualified Retirement Plan: A qualified retirement plan is an employer sponsored plan that meets the requirements established by the Internal Revenue Service (IRS) and the US Congress. Pensions, profit-sharing plans, money purch MORE
Business / Agriculture / Plant Quarantine Act: Originally enacted in 1912, this Act gives the Animal and Plant Health Inspection Service authority to regulate the importation and interstate movement of nursery stock and other plants that may carry MORE