The long-popular paired Keogh, which combines a profit-sharing plan and a money-purchase plan is now obsolete.
Turns out, in January 1999 Bridgehampton distributed its Take-Two shares to Peter and his profit-sharing plan.
If you want to save more or can't use a Simple, consider a SEP-IRA or a profit-sharing plan.
She also plans to have the farmers partake in a profit-sharing plan.
If you've got a money-purchase plan, roll it into a profit-sharing plan or a SEP--contributions to both are totally discretionary each year.
She donated to help set up a library--and promptly began to design several business operations, including an accounting system and the profit-sharing plan.
The key difference, however, is that you can add a 401(k) allowing employee contributions to a profit-sharing plan, but not to a SEP.
Owning another 31% of Take-Two via Bridgehampton was the profit-sharing plan of Brant-Allen Industries, a company Peter owned with partner Joseph Allen (who pled guilty to the same charges as Brant in 1990).
She could contribute 20% of that to a profit-sharing pension plan.
For those in Mr. Davis's shoes, other possible solutions include establishing a profit-sharing or defined-benefit pension plan, or staying on the job as a salaried employee, consultant or paid chairman.
For example, assets held in a qualified pension or profit sharing plan are exempt from state-law claims, such as malpractice claims.
Gill and his wife plan to set up a family office in the next year to formalize profit-sharing structures now in place.
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The new plan was announced after The Wall Street Journal reported that Citigroup is shelving an unusual executive profit-sharing arrangement that raised hackles with investors following its adoption in 2011.
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