San Francisco, Calif. (December 15, 2010) — A new, nationwide survey of small business owners and upper-middle income professionals who invest in defined benefit (DB) plans found that an overwhelming majority consider these plans a top strategy for reducing taxes and achieving a financially secure retirement.
“The survey findings confirm that defined benefit plans, once offered primarily by big business, today offer outstanding tax advantages for businesses with one-to-five employees and for self-employed people,” according to Karen Shapiro, CEO of Dedicated Define Benefit Services, the company that conducted the survey and administers these plans for small businesses.
The survey, conducted during the second half of October, garnered responses from 228 plan sponsors (business owners) across the country, about their outlook for revenues and their retirement plans.
Among the findings:
“Since DB plans must be established before the end of the tax year, now is the time for people to determine whether a defined benefit plan is right for them,” said Shapiro. Dedicated DB Services has developed a special Quick Adoption process that allows qualified small business owners and individuals with self-employment income to sign up through December 31st.
According to Shapiro, the key advantages of defined benefit plans for small business owners are:
For more information about defined benefit plans and to determine if you qualify, visit www.onepersonplus.com or call 1-866-269-2706, or ask your financial or tax advisor for more information.
About Dedicated Defined Benefit Services
Dedicated Defined Benefit Services, based in the San Francisco Bay area, is the only national company focused exclusively on helping financial advisors provide Defined Benefit Plans for high-income professionals, small business owners and individuals with self-employment income. Dedicated DB, which pioneered streamlined, turnkey defined benefit plans for small business, administers over 1000 plans for firms with one to five employees.
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