To download the ASPPA Journal Spring 2008 Supplement: Plan Comparison Chart, click here. (Provided courtesy of The ASPPA Journal. Data applicable for 2008 plan year only.)

401(k) Who contributes? Employee (with possible employer matching). Maximum Contribution for 2008 $15,500 ($20,500 if 50 or older) Flexibility At employee's discretion. Match can be discretionary. Deduction limit No limit Eligibility Not later than age 21 and one year of service. Some employees can be excluded. Vesting Employee contributions 100% vested. Employer contributions can have graded schedule. Investment Discretion Participants can be allowed to direct their own investments. Participant Loans Permitted, with restrictions.

Profit Sharing Who contributes? Employer Maximum Contribution for 2008 401(k), Profit Sharing and Money Purchase combined cannot exceed $46,000 or $51,000 (if age 50 or older). Flexibility Discretionary Deduction limit Profit Sharing and Money Purchase combined limited to 25% of covered payroll. Eligibility Not later than age 21 and one year of service (with graded vesting) or two years of service (with 100% vesting). Some employees can be excluded. Vesting Employee contributions 100% vested. Employer contributions can have graded schedule. Investment Discretion Participants can be allowed to direct their own investments. Participant Loans Permitted, with restrictions.

Money Purchase Who contributes? Employer Maximum Contribution for 2008 401(k), Profit Sharing and Money Purchase combined cannot exceed $46,000 or $51,000 (if age 50 or older). Flexibility Not discretionary. Can be changed by plan amendment. Deduction limit Profit Sharing and Money Purchase combined limited to 25% of covered payroll. Eligibility Not later than age 21 and one year of service (with graded vesting) or two years of service (with 100% vesting).  Some employees can be excluded. Vesting Employee contributions 100% vested. Employer contributions can have graded schedule. Investment Discretion Participants can be allowed to direct their own investments. Participant Loans Permitted, with restrictions.

Traditional Defined Benefit Who contributes? Employer Maximum Contribution for 2008 Depends on age. Can exceed $45,000. Flexibility Not discretionary. Can be changed by plan amendment. Deduction limit Actuarially determined.  Limited to 25% of covered payroll if combined with a defined contribution plan. Eligibility Not later than age 21 and one year of service (with graded vesting) or two years of service (with 100% vesting). Some employees can be excluded. Vesting Employer contributions can have graded schedule. Investment Discretion Participants cannot direct their own investments until transferred out of plan Participant Loans Permitted, with restrictions.

Cash Balance Who contributes? Employer Maximum Contribution for 2008 Depends on age. Can exceed $45,000. Flexibility Not discretionary. Can be changed by plan amendment. Deduction limit Actuarially determined. Limited to 25% of covered payroll if combined with a defined contribution plan. Eligibility Not later than age 21 and one year of service (with graded vesting) or two years of service (with 100% vesting). Some employees can be excluded. Vesting Employer contributions can have graded schedule. Investment Discretion Participants cannot direct their own investments until transferred out of plan. Participant Loans Permitted, with restrictions.