How can you help your clients avoid mistakes in the new year?

31st Jan 2024

Guide your clients away from costly retirement plan mistakes

Year after year we have seen clients who contributed to a form 5305 SEP or SIMPLE-IRA and lamented about lost savings when they discovered they were not able to open a small business pension plan. Had they known, as high-income self-employed individuals, about a potentially better tax savings option such as a Defined Benefit or a Cash Balance plan, they may not have missed out on potential savings during that plan year. And while SECURE 2.0 now permits employers to replace a SIMPLE-IRA mid-year with a safe-harbor 401(k) or 403(b) plan, such plans provide much lower deductible contribution limits than Defined Benefit or Cash Balance plans.

There are many key differences in retirement plans that have a big impact on how much your clients are able to save on their taxes and for retirement. As you review the previous year and look towards tax season, consider if you have any clients who may be eligible to participate in a Defined Benefit or Cash Balance plan.

Our defined benefit calculator can help you easily prepare an estimate to share with your qualified clients.

Estimate Tax Savings

Use Our Marketing Tools

We have an extensive library of materials for you to use to educate yourself and your clients about Defined Benefit and Cash Balance plans.

Go to our Marketing Resource Library

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

Best regards,

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Raymond Lee
Director of Sales | Dedicated Defined Benefit Services, part of FuturePlan by Ascensus

(866) 269-2706

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