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The investment products available through retirement plans of Banco Popular are not insured by the FDIC, are not deposits or obligations, are not guaranteed by Banco Popular de Puerto Rico or its subsidiaries and/or affiliates. Investment products involve risks, including the possible loss of the invested principal. Please request a prospectus and read it carefully before investing.
The content of this material is for informational purposes only and does not constitute tax, legal or accounting advice. Banco Popular de Puerto Rico, its subsidiaries, or affiliates, do not engage in the offering of tax, legal or accounting advice.
Contributions exceeding the deductible limit will pay a tax equivalent to 10% even if the non-deductible contribution is not claimed as a deduction on your income tax return. For 2018 to 2024 tax years, the maximum annual employer and employee contribution amount per participant will be the lesser of $69,000 or 100% of the participant’s compensation. Also, the maximum compensation per participant to be used for determining contributions to the plan shall not exceed $345,000.