Allow Time for Plan Design


Effective plan design takes time, so start the process now.

This year you have a unique opportunity. Because of the SECURE Act, the deadline for a business to establish a plan has been extended to the due date of the business’s tax filing (including extensions) for the applicable tax year. So there’s still time to open plans for 2020.
Effective plan design takes time, so start the process now. To establish Defined Benefit and Cash Balance plans for 2020, we recommend that your clients sign and date all documents far ahead of their business tax filing deadline.


There are 5 steps to get the plan design right:

  1. IDENTIFY PROSPECTS: High-income, self-employed candidates
  2. ESTIMATE TAX SAVINGS: Try our Defined Benefit calculator
  3. CALL US FOR A CUSTOM PROPOSAL: We’re here to help
  4. REVIEW PROPOSAL WITH CLIENT: Adjust income, if applicable
  5. FINALIZE THE PLAN DESIGN: Involve a CPA, if needed

5 Steps to Get the Plan Design Right

What are the benefits for Advisors?

By helping your high-income clients open a Defined Benefit plan or Cash Balance plan, you could easily and efficiently increase the investment dollars you manage each year. Depending on the situation, business owners may be able to save millions for retirement in just 10 years. Don’t guess. Let’s talk – even if we ultimately decide that a Defined Benefit plan is not right.

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