Go back to Email ArchiveHelp clients get ahead in saving for retirement with our Texas Two-Step
15th Aug 2024
The time to set up a defined benefit plan for fiscal year 2023 has drawn to a close.
However, there’s still a way to help your clients save this year and prepare them to get ahead by increasing their retirement savings with our Texas Two-Step strategy.
STEP
1
First, have your clients open a SEP for 2023.
Simplified Employee Pension IRAs (SEP IRA) are a good option for self-employed individuals as they are able to contribute up to the lesser of 25% of their compensation or $66,000. SEP IRAs are tax deductible and offer flexibility around funding.
| DEFINED BENEFIT VS. DEFINED CONTRIBUTION |
STEP
2
Next, help your clients set up a Defined Benefit plan for next year
Defined benefit plans offer the largest tax-deductible contributions for self-employed individuals, vastly increasing their ability to save for retirement. These plans can average more than $100,000 per year in retirement savings.
| CALCULATE SAVINGS |
Contact our defined benefit specialists.
We can create custom proposals and design plans to fit your client’s situation.
Call us toll free at: 1-866-269-2706 or email us at dbplans@dedicated-db.com.
Best regards,
Raymond Lee
Director of Sales | Dedicated Defined Benefit Services, part of FuturePlan by Ascensus
E raymond.lee@dedicated-db.com
P (866) 269-2706
www.dedicated-db.com
