TYPICAL DEFINED BENEFIT CLIENTS
A Defined Benefit plan for high income clients and family businesses
OnePersonPlus is a traditional defined benefit plan designed to meet the tax savings and retirement income needs of individuals with high self-employment income and owner-only or family businesses. These plans provide large tax-deductible contributions averaging $100,000+ annually.
Learn more See typical client solutionsOnePersonPlus Defined Benefit Plan Allows the Largest Contribution
High income earners 50 or older may be eligible to contribute to a OnePersonPlus 2 to 3 times the amount they might otherwise contribute to a SEP or 401(k).
Quick Eligibility Checklist for a OnePersonPlus Defined Benefit Plan
RETIREMENT PLAN SAVING LIMITS
For a Client Age 52 Earning $330,000 
2023 plan maximum contribution limits for a 52 year-old, including “catch-up” contributions of $3,000 for SIMPLE IRA, $7,500 for 401(k).
OnePersonPlus has the potential to be a powerful retirement plan solution for people who are:
- Earning $100,000 or more annually in one of these ways
- As primary income for an owner-only business or owner plus spouse or other family member
- Has a second occupation or source of income in which individual works for himself or herself
- Is considered an Independent Contractor rather than an employee
- Interested in making larger contributions than allowed in a SEP-IRA or 401(k)
- Likely to have cash flow to make contributions for 3-5 years or longer
Key Advantages of OnePersonPlus Defined Benefit Plan
- Allows the highest contributions to a qualified plan – $100,000 or more and as much as 100% of compensation, depending on a number of factors
- Contributions are fully tax deductible – saving huge amounts in taxes
- Investments grow tax-deferred building wealth faster than a taxable investment
- Clients and their advisors may invest plan contributions in marketable securities, such as stocks, bonds, ETFs, mutual funds and annuities, they choose
- Reduces adjusted gross income making itemized deductions and personal exemptions worth even more
- Tax-free roll over to an IRA at retirement (or at plan termination)
OCCUPATIONS THAT MIGHT QUALIFY
Getting Started
2
Talk to Dedicated DB consultant to adjust plan to meet client objectives
3
Complete Questionnaire & Send Payment
4
Sign Plan Documents
5
Open Investment Account
Key Dates
Defined Benefit Plans should be opened by December 31 and at the latest by the business’ tax filing deadline including extensions for the plan year.
Contributions are not required until the tax filing deadline with extensions but no later than eight and a half months after the end of the fiscal year.