401(k) Plan - A defined contribution plan established under IRS section 401(k), in which employees may elect, as an alternative to receiving taxable cash in the form of compensation or a bonus, to contribute pretax dollars to a qualified tax-deferred retirement plan.

403(b) Plan - A defined contribution plan under section 403(b) of the Internal Revenue Code. Permits employees of qualifying non- profit organizations to set aside tax-deferred retirement plans.

412(i) Plan - The 412(i) plan (also known as fully insured retirement plan), is a qualified defined benefit plan that allows for tax deductible contributions. The plan is funded with a combination of life insurance and annuity products as required by IRS regulations.  Non-variable life insurance and annuity products are most suitable for use in 412(i) plans.

Profit Sharing Plan - A profit sharing plan is a defined contribution plan, covered by Internal Revenue Code section 401(a), under which the employer decides how much will be contributed each year. A participant’s retirement benefits are based on the amount in his or her individual account at retirement.

Defined Benefit Plan - A defined benefit plan is an employer sponsored retirement plan providing a predetermined benefit for the plan participant at retirement.

Defined Contribution Plan - A defined contribution plan is an employer-sponsored retirement plan allowing contributions to be made for employees, which are generally based on a percentage of the employee’s compensation.

Money Purchase - A defined contribution qualified retirement plan covered by IRC Sec 401(a) where employer              
contributions are based on a percentage of each employee's salary. The employer is required to make annual contributions
to the plan at a set percentage, which may range from zero percent to 25 percent of compensation as chosen by the
employer in the plan agreement.