Client of the Week

Dermatologist Revitalizes Retirement Plan

Dr. C, age 58, and his wife have a thriving dermatology practice with three additional employees. We designed an OwnersPlus Cash Balance + 401(k) program that he will contribute to until he retires, in about five years. The practice will contribute almost $340,000 a year of which 98% will be on behalf of Dr. C and his wife. This should save the couple over $112,000 in current year taxes each year. Upon retirement or plan termination, the couple’s assets will roll into an IRA and continue to grow tax deferred until withdrawn.

Estimate contribution and deduction with our DB calculator Try it now