Frequently Asked Questions

    • Are takeovers of existing Defined Benefit plans permitted?

      Yes, but there is quite a lot of information that needs to be analyzed before an assessment can be made, such as review of the prior plan documents, calculations, tax returns, salary history, and accrued benefit, etc.

    • How do I set up a Defined Benefit plan?

      Dedicated Defined Benefit Services (Dedicated DB) has created a prototype plan document that simplifies the process and information required to open a Defined Benefit plan.  We will gather information from the business owner and the financial advisor and CPA to design the plan to meet the client’s objectives. Dedicated DB takes care of all the IRS forms and plan administration services.  The client or financial advisor will open investment accounts once the plan is established. Read more about Setting Up Your Defined Benefit Plan.

    • How long does it take to set up a Defined Benefit or Cash Balance plan?

      Generally, a plan can be set up in two-three weeks. Dedicated DB will need accurate information from the business owner about their business and their objectives to design the plan(s). Once the plan is designed and agreed to, Dedicated DB will prepare the Adoption Agreement and other documents for client signature. The plan is established once the documents are signed and then Trust investment accounts can be set up and the business can begin to deposit the contribution or pay credits. Learn more about getting started with a plan.

    • What if I have sponsored a Defined Benefit plan in the past?

      There is a limit on the annual benefit that can be paid out under a Defined Benefit plan. If that limit was not reached in the prior plan, we can run an illustration for you to determine whether it makes sense for you to open another plan. As with take over plans, a complete analysis of the prior plan is required.

    • Does the IRS approve of these plans?

      Yes, the IRS has approved the documents that Dedicated Defined Benefit Services uses for your plan.

    • Can I administer my own Defined Benefit account?

      Defined Benefit plan administration requires technical analysis, complex calculations and completion of IRS required forms and procedures, as well as a review by an actuary.  The IRS imposes penalties for incorrect information, miscalculation, and missed deadlines – all of which can be avoided by working with a third party administrator with defined benefit expertise. Dedicated Defined Benefit Services, part of FuturePlan by Ascensus. performs these services in an efficient and cost-effective way.

    • Are takeovers of existing Defined Benefit plans permitted?

      Yes, but there is quite a lot of information that needs to be analyzed before an assessment can be made, such as review of the prior plan documents, calculations, tax returns, salary history, and accrued benefit, etc.

    • How do I set up a Defined Benefit plan?

      Dedicated Defined Benefit Services (Dedicated DB) has created a prototype plan document that simplifies the process and information required to open a Defined Benefit plan.  We will gather information from the business owner and the financial advisor and CPA to design the plan to meet the client’s objectives. Dedicated DB takes care of all the IRS forms and plan administration services.  The client or financial advisor will open investment accounts once the plan is established. Read more about Setting Up Your Defined Benefit Plan.

    • How long does it take to set up a Defined Benefit or Cash Balance plan?

      Generally, a plan can be set up in two-three weeks. Dedicated DB will need accurate information from the business owner about their business and their objectives to design the plan(s). Once the plan is designed and agreed to, Dedicated DB will prepare the Adoption Agreement and other documents for client signature. The plan is established once the documents are signed and then Trust investment accounts can be set up and the business can begin to deposit the contribution or pay credits. Learn more about getting started with a plan.

    • What if I have sponsored a Defined Benefit plan in the past?

      There is a limit on the annual benefit that can be paid out under a Defined Benefit plan. If that limit was not reached in the prior plan, we can run an illustration for you to determine whether it makes sense for you to open another plan. As with take over plans, a complete analysis of the prior plan is required.

    • Does the IRS approve of these plans?

      Yes, the IRS has approved the documents that Dedicated Defined Benefit Services uses for your plan.

    • Can I administer my own Defined Benefit account?

      Defined Benefit plan administration requires technical analysis, complex calculations and completion of IRS required forms and procedures, as well as a review by an actuary.  The IRS imposes penalties for incorrect information, miscalculation, and missed deadlines – all of which can be avoided by working with a third party administrator with defined benefit expertise. Dedicated Defined Benefit Services, part of FuturePlan by Ascensus. performs these services in an efficient and cost-effective way.

    • Are takeovers of existing Defined Benefit plans permitted?

      Yes, but there is quite a lot of information that needs to be analyzed before an assessment can be made, such as review of the prior plan documents, calculations, tax returns, salary history, and accrued benefit, etc.

    • How do I set up a Defined Benefit plan?

      Dedicated Defined Benefit Services (Dedicated DB) has created a prototype plan document that simplifies the process and information required to open a Defined Benefit plan.  We will gather information from the business owner and the financial advisor and CPA to design the plan to meet the client’s objectives. Dedicated DB takes care of all the IRS forms and plan administration services.  The client or financial advisor will open investment accounts once the plan is established. Read more about Setting Up Your Defined Benefit Plan.

    • How long does it take to set up a Defined Benefit or Cash Balance plan?

      Generally, a plan can be set up in two-three weeks. Dedicated DB will need accurate information from the business owner about their business and their objectives to design the plan(s). Once the plan is designed and agreed to, Dedicated DB will prepare the Adoption Agreement and other documents for client signature. The plan is established once the documents are signed and then Trust investment accounts can be set up and the business can begin to deposit the contribution or pay credits. Learn more about getting started with a plan.

    • What if I have sponsored a Defined Benefit plan in the past?

      There is a limit on the annual benefit that can be paid out under a Defined Benefit plan. If that limit was not reached in the prior plan, we can run an illustration for you to determine whether it makes sense for you to open another plan. As with take over plans, a complete analysis of the prior plan is required.

    • Does the IRS approve of these plans?

      Yes, the IRS has approved the documents that Dedicated Defined Benefit Services uses for your plan.

    • Can I administer my own Defined Benefit account?

      Defined Benefit plan administration requires technical analysis, complex calculations and completion of IRS required forms and procedures, as well as a review by an actuary.  The IRS imposes penalties for incorrect information, miscalculation, and missed deadlines – all of which can be avoided by working with a third party administrator with defined benefit expertise. Dedicated Defined Benefit Services, part of FuturePlan by Ascensus. performs these services in an efficient and cost-effective way.

    • Are takeovers of existing Defined Benefit plans permitted?

      Yes, but there is quite a lot of information that needs to be analyzed before an assessment can be made, such as review of the prior plan documents, calculations, tax returns, salary history, and accrued benefit, etc.

    • How do I set up a Defined Benefit plan?

      Dedicated Defined Benefit Services (Dedicated DB) has created a prototype plan document that simplifies the process and information required to open a Defined Benefit plan.  We will gather information from the business owner and the financial advisor and CPA to design the plan to meet the client’s objectives. Dedicated DB takes care of all the IRS forms and plan administration services.  The client or financial advisor will open investment accounts once the plan is established. Read more about Setting Up Your Defined Benefit Plan.

    • How long does it take to set up a Defined Benefit or Cash Balance plan?

      Generally, a plan can be set up in two-three weeks. Dedicated DB will need accurate information from the business owner about their business and their objectives to design the plan(s). Once the plan is designed and agreed to, Dedicated DB will prepare the Adoption Agreement and other documents for client signature. The plan is established once the documents are signed and then Trust investment accounts can be set up and the business can begin to deposit the contribution or pay credits. Learn more about getting started with a plan.

    • What if I have sponsored a Defined Benefit plan in the past?

      There is a limit on the annual benefit that can be paid out under a Defined Benefit plan. If that limit was not reached in the prior plan, we can run an illustration for you to determine whether it makes sense for you to open another plan. As with take over plans, a complete analysis of the prior plan is required.

    • Does the IRS approve of these plans?

      Yes, the IRS has approved the documents that Dedicated Defined Benefit Services uses for your plan.

    • Can I administer my own Defined Benefit account?

      Defined Benefit plan administration requires technical analysis, complex calculations and completion of IRS required forms and procedures, as well as a review by an actuary.  The IRS imposes penalties for incorrect information, miscalculation, and missed deadlines – all of which can be avoided by working with a third party administrator with defined benefit expertise. Dedicated Defined Benefit Services, part of FuturePlan by Ascensus. performs these services in an efficient and cost-effective way.

    • Are takeovers of existing Defined Benefit plans permitted?

      Yes, but there is quite a lot of information that needs to be analyzed before an assessment can be made, such as review of the prior plan documents, calculations, tax returns, salary history, and accrued benefit, etc.

    • How do I set up a Defined Benefit plan?

      Dedicated Defined Benefit Services (Dedicated DB) has created a prototype plan document that simplifies the process and information required to open a Defined Benefit plan.  We will gather information from the business owner and the financial advisor and CPA to design the plan to meet the client’s objectives. Dedicated DB takes care of all the IRS forms and plan administration services.  The client or financial advisor will open investment accounts once the plan is established. Read more about Setting Up Your Defined Benefit Plan.

    • How long does it take to set up a Defined Benefit or Cash Balance plan?

      Generally, a plan can be set up in two-three weeks. Dedicated DB will need accurate information from the business owner about their business and their objectives to design the plan(s). Once the plan is designed and agreed to, Dedicated DB will prepare the Adoption Agreement and other documents for client signature. The plan is established once the documents are signed and then Trust investment accounts can be set up and the business can begin to deposit the contribution or pay credits. Learn more about getting started with a plan.

    • What if I have sponsored a Defined Benefit plan in the past?

      There is a limit on the annual benefit that can be paid out under a Defined Benefit plan. If that limit was not reached in the prior plan, we can run an illustration for you to determine whether it makes sense for you to open another plan. As with take over plans, a complete analysis of the prior plan is required.

    • Does the IRS approve of these plans?

      Yes, the IRS has approved the documents that Dedicated Defined Benefit Services uses for your plan.

    • Can I administer my own Defined Benefit account?

      Defined Benefit plan administration requires technical analysis, complex calculations and completion of IRS required forms and procedures, as well as a review by an actuary.  The IRS imposes penalties for incorrect information, miscalculation, and missed deadlines – all of which can be avoided by working with a third party administrator with defined benefit expertise. Dedicated Defined Benefit Services, part of FuturePlan by Ascensus. performs these services in an efficient and cost-effective way.

    • Are takeovers of existing Defined Benefit plans permitted?

      Yes, but there is quite a lot of information that needs to be analyzed before an assessment can be made, such as review of the prior plan documents, calculations, tax returns, salary history, and accrued benefit, etc.

    • How do I set up a Defined Benefit plan?

      Dedicated Defined Benefit Services (Dedicated DB) has created a prototype plan document that simplifies the process and information required to open a Defined Benefit plan.  We will gather information from the business owner and the financial advisor and CPA to design the plan to meet the client’s objectives. Dedicated DB takes care of all the IRS forms and plan administration services.  The client or financial advisor will open investment accounts once the plan is established. Read more about Setting Up Your Defined Benefit Plan.

    • How long does it take to set up a Defined Benefit or Cash Balance plan?

      Generally, a plan can be set up in two-three weeks. Dedicated DB will need accurate information from the business owner about their business and their objectives to design the plan(s). Once the plan is designed and agreed to, Dedicated DB will prepare the Adoption Agreement and other documents for client signature. The plan is established once the documents are signed and then Trust investment accounts can be set up and the business can begin to deposit the contribution or pay credits. Learn more about getting started with a plan.

    • What if I have sponsored a Defined Benefit plan in the past?

      There is a limit on the annual benefit that can be paid out under a Defined Benefit plan. If that limit was not reached in the prior plan, we can run an illustration for you to determine whether it makes sense for you to open another plan. As with take over plans, a complete analysis of the prior plan is required.

    • Does the IRS approve of these plans?

      Yes, the IRS has approved the documents that Dedicated Defined Benefit Services uses for your plan.

    • Can I administer my own Defined Benefit account?

      Defined Benefit plan administration requires technical analysis, complex calculations and completion of IRS required forms and procedures, as well as a review by an actuary.  The IRS imposes penalties for incorrect information, miscalculation, and missed deadlines – all of which can be avoided by working with a third party administrator with defined benefit expertise. Dedicated Defined Benefit Services, part of FuturePlan by Ascensus. performs these services in an efficient and cost-effective way.

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