#1 Retirement Plan Mistake of 2019

9th Jan 2020


At Dedicated DB, 2019 was a record-breaking year for our Defined Benefit and Cash Balance plans. Inquiries for these high-contribution retirement plans increased by over 70% year over year. The reason is simple. These plans potentially offer the highest allowable contribution to a qualified plan – up to $200,000 or more annually for small business owners like doctors, lawyers, mom & pops, and consultants.

These plans are the most tax-advantaged programs approved by the IRS, yet many clients may not know they exist. With that in mind, here is the biggest mistake that we saw in 2019…


Making SEP or SIMPLE contributions in 2019 (without talking to us first)

Picture of Woman Covering EyesEvery year we see clients disappointed, because they’ve already contributed to a SEP-IRA or SIMPLE IRA. And this typically prevents these consistent high earners from being able to take advantage of the added tax savings of a Defined Benefit or Cash Balance plan in the same calendar year.

We’ve made it easy to compare retirement plan options. See the key differences between Defined Benefit vs. Defined Contribution plans.


Important Tip: Know clients or prospects with consistent income year after year? We have 50+ Sales and Marketing resources to help you start the conversation.


Calculator Proposal Output Image

With our Defined Benefit Plan Calculator, you can easily show your clients maximum annual DB contribution, tax savings, and total benefit at retirement.


Want to chat about your client or prospect?
Contact us for ALWAYS AVAILABLE consulting.

866-269-2706 | DBPlans@dedicated-db.com




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