San Francisco, Calif. (November 2, 2015) — Dedicated Defined Benefit Services, the leading provider of defined benefit plans for individuals with self-employment income, has announced a new program, OwnersPlus. that combines Cash Balance + 401 (k) Profit Sharing Plans. It allows owners of profitable businesses with 1-10 employees to make large deductible contributions and better predict the cost of employee benefits.
Owners must establish the program by Dec. 31, 2015, setting a contribution amount they want to fund each year, within limits set by the IRS.
Typical clients are age 45+, own small professional businesses such as medical, dental or legal practices, have regular cash flow and seek to put away significantly more money for retirement.
“We’ve been doing defined benefit plans for owners and spouses, but as more small businesses prosper, we discovered we need a program that works for business owners with employees,” says Richard Collins, President of Dedicated DB. “This program provides the same tax advantages with additional control for the owners.”
“Many business owners contribute to SEP-IRA plans for retirement and tax savings because they’re easy to set up and the deadline is when you file taxes,” says Raymond Lee, Director of Sales at Dedicated DB. “Cash balance plans potentially allow qualified clients to save triple what a SEP can. In cash balance plans, owners have the potential to quickly accumulate wealth because such generous tax-deductible contributions are possible. And, the older you are, generally, the more you can contribute”
Advantages for business owners include:
For information about OwnersPlus, visit www.Dedicated-DB.com or call 1-866-269-2706.
About Dedicated Defined Benefit Services
Dedicated Defined Benefit Services, based in Glendale, Calif., is the only national company focused exclusively on providing defined benefit plans for high-income professionals, small businesses and individuals with self-employment income. Dedicated DB pioneered the turnkey DB plan, partnering with large financial firms to open over 3,000 of these plans. www.Dedicated-DB.com
Karen Shapiro, CEO