‘Cash Balance Plans for Small Businesses’
Cash Balance plans are ideal for partnerships, professional practices and small business owners who are looking to increase contributions to their retirement and reduce taxes while limiting the cost of employee benefits.
Learn More About:
- What Is a Cash Balance Plan
- How Does a Cash Balance Plan Work
- Why Are Cash Plans Gaining Favor with Professional Practices and Small Business Owners
- Who Is Best Suited for a Cash Balance Plan
Basics of Cash Balance Plans Whitepaper
Who can benefit from these plans?
Small business owners with 2 to 10 employees who are looking to accelerate retirement savings after maxing out their 401(k), are well positioned to benefit from the tax savings available with a Cash Balance plan. This type of plan is gaining popularity among self-employed individuals and small business owners seeking tax advantages.
This plan is especially beneficial for older small business owners with high incomes who have delayed retirement and need to rapidly boost their savings.
What is a Cash Balance plan?
A Cash Balance plan is a type of Defined Benefit plan where employers contribute to fund a “personal pension plan.” These contributions are tax-deductible, allowing for significant tax deferrals. In other words, taxes on the contributed amount are postponed until withdrawal.
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