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Library » Cash Balance Plans for Owner-Only Businesses
March 03, 2021 | Financial Planning
There are over 26 million owner-only businesses in the nation today. Many of these businesses can benefit from substantially increased retirement savings through the use of cash balance or traditional defined benefit plans. In general, an owner-only business consists exclusively of owners, …
Library » Case Study: Cash Balance and 401(k) Combination Plan Design
January 11, 2021 | Retirement Plans
Learn how a combination of cash balance and 401(k) plans can help business owners increase annual tax-advantaged retirement savings.
Library » Qualified Plans for Owner-Only S-Corporations
August 06, 2020 | Retirement Plans
Leverage a $75,000 W2 into a $179,000 retirement allocation S-Corporations (S-Corps) that are consistently and highly profitable (e.g. $350,000+/year in earnings) can leverage a relatively small annual W2 salary to minimize self-employment taxes and maximize qualified plan contributions by …
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Financial AdvisorsLibrary » Profit Sharing Allocation Methods - The Better Part of Discretion
May 13, 2020 | Retirement Plans
Most Profit Sharing/401(k) Plan sponsors have the basic understanding that the plan contributions must not discriminate in favor of the owners and other highly paid participants over non-owners and non-highly paid participants. Many business owners interpret this to mean “I can’t contribute more …
Library » What is a Cash Balance Plan?
April 03, 2020 | Retirement Plans
Cash Balance Plans have been around for many years, but were fraught with controversy stemming from age-discrimination lawsuits brought against plan sponsors who converted their traditional Defined Benefit (DB) Plans to Cash Balance Plans. It was not until the passage of the Pension Protection …
Financial Planning » 2020 Qualified Plan Limits
November 20, 2019 | Financial Planning
Well… it’s that time of year again. Red and gold leaves drift by the window. The pitter-patter of little goblin feet trails off into the chilling night. The gales of November seem too early. And, the IRS announces the qualified plan limits for the next year. The full text of IRS Notice 2019-59 …
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IndividualsLibrary » Regulatory FAQs: Cash Balance Plans
October 27, 2018 | Retirement Plans
Cash balance pension plans are growing in popularity, but I don’t know much about them. How is a cash balance plan different from a traditional defined benefit pension plan? It’s best to start this discussion with an illustration. If you were given a choice between the following two pension …
Library » Small Business Retirement Plans and Recent Tax Reform
August 17, 2018 | Retirement Plans
With the passing of the Tax Cuts and Jobs Act (TCJA) in December of 2017, business owners may be asking how it might impact a currently sponsored qualified retirement plan, or they may be considering adopting one for the first time. In fact, one of the new tax deductions under TCJA may result in …
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All AudiencesLibrary » How Business Owners Can Profit from the Tax Cuts and Jobs Act
July 30, 2018 | Tax Planning
The Tax Cuts and Jobs Act brought sweeping changes to the tax code, but business owners may come out on top. Find out if you meet the requirements and what steps you can take to take advantage of the new deduction. Have questions about the new tax laws and qualified plans? We’ …
Audience
InstitutionsLibrary » Converge, Volume 12: What’s New with the Form 5500?
December 07, 2016 | Retirement Plans
The Department of Labor’s (DOL) new conflict of interest rule creates many new administrative requirements and disclosure requirements for fiduciaries. The requirements themselves can be daunting, but so too is the prospect of enforcing compliance. For that, the DOL empowered the plaintiff’s …