Business Owners Retirement Planning
We offer all design, document and administrative services for the following types of retirement plans.
Defined Benefit
Highest tax deductible contribution
The contributions for Defined Benefit Plans are calculated based on the employees' ages and compensation. The older the employee and the more compensation (up to IRS compensation limits) the larger the contribution required for the employee.
Cross-Tested
Allows varying contribution levels among classes of employees
The contributions for Cross-Tested Plans are based on the employees' ages, compensation, employee classes and the percent of contribution decided by the employer.
Profit Sharing
Maximum flexibility in employer contribution
A profit sharing plan allows an employer (at the employers' discretion) to contribute and deduct from 0% to 25% of covered payroll each year.
401(k)
Maximum flexibility in employer contribution
A 401(k) Plan allows employees to defer pretax dollars for their own retirement savings. These plans can be set up with or without an employer match and, in addition to a match, can allow a discretionary employer contribution each year.
Cash Balance
One of the highest tax deductible contributions
The contributions for Cash Balance Plans are based on the employees' ages, compensation and employee classes. In general, the older owners or key employees are put into classes and receive a much larger contribution than other employees. This is the case even if the other employees are close in age to the owners.
Money Purchase
Fixed contribution
A Money Purchase Plan allows an employer to contribute and deduct up to 25% of covered payroll per a fixed formula contained in the plan document.
Target Benefit
Favors participants close to retirement
The contributions for Target Benefit Plans are calculated based on the employees' ages and compensation. The older the employee and the more compensation (up to IRS compensation limits) the larger the contribution required for the employee.