OnePersonPlus is a traditional defined benefit plan designed to meet the tax savings and retirement income needs of individuals with high self-employment income and owner-only or family businesses. These plans provide large tax-deductible contributions averaging $100,000+ annually. Often, adding a OnePerson (k) plan can increase the contribution and add flexibility.

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OnePersonPlus Defined Benefit Plan Allows the Largest Contribution

High income earners 50 or older may be eligible to contribute to a OnePersonPlus 2 to 3 times the amount they might otherwise contribute to a SEP or 401(k).

Quick Eligibility Checklist for a OnePersonPlus Defined Benefit Plan

RETIREMENT PLAN SAVING LIMITS

For a Client Age 52 Earning $265,000

2016 plan maximum contribution limits for a 52 year-old, including “catch-up” contributions of $3000 for SIMPLE IRA, $6000 for 401(k).

Learn more about small business retirement plan options

OnePersonPlus has the potential to be a powerful retirement plan solution for people who are:

  • Earning $100,000 or more annually in one of these ways
    • As primary income for an owner-only business or owner plus spouse or other family member
    • Has a second occupation or source of income in which individual works for himself or herself
    • Is considered an Independent Contractor rather than an employee
  • Interested in making larger contributions than allowed in a SEP-IRA or 401(k)
  • Likely to have cash flow to make contributions for 3-5 years or longer

Key Advantages of OnePersonPlus Defined Benefit Plan

  • Allows the highest contributions to a qualified plan – $100,000 or more and as much as 100% of compensation, depending on a number of factors
  • Contributions and fees are fully tax deductible – saving huge amounts in taxes
  • Investments grow tax-deferred building wealth faster than a taxable investment
  • Clients and their advisors may invest plan contributions in
    marketable securities, such as stocks, bonds, ETFs, mutual funds and annuities, they choose
  • Reduces adjusted gross income making itemized deductions and personal exemptions worth even more
  • Tax-free roll over to an IRA at retirement (or at plan termination)

More Client Profiles

OCCUPATIONS THAT MIGHT QUALIFY

  • Attorney

  • Construction Trades

  • Consultant

  • Engineer

  • Entertainer

  • Family Business

  • Farmer

  • Financial Advisor

  • Graphic Designer

  • Corporate Director

  • Physician

  • Real Estate Agent

  • Sales Rep

  • Software Engineer

  • Web Developer

Getting Started

Please Note: Your Defined Benefit plan for the 2016 tax year must be set up by the end of the business fiscal year, generally, December 31st.

2

Talk to Dedicated DB consultant to adjust plan to meet client objectives

3

Complete Questionnaire & Send Payment

4

Sign Plan Documents

5

Open Investment Account

Key Dates

Defined Benefit Plans must be opened by the end of the business’s fiscal year, generally December 31st.

Contributions are not required until the tax filing deadline with extensions but no later than eight and a half months after the end of the fiscal year.

Resources

USE THIS FORM TO REQUEST A PERSONALIZED ILLUSTRATION

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Typical Defined Benefit Clients

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BASICS OF DEFINED BENEFIT PLANS

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Estimate how much you or your client could save on taxes with our DB calculator Try it now

See if you or your client qualify for Defined Benefits Learn More

Questions about opening new plans

Call toll free at: 1 (866) 269 - 2706
(Monday to Friday, 8.30am-8pm ET) or Send us a message