Cash Balance Pension Plans

 

What reason(s) are there to help me decide if a Cash Balance Pension Plan is good for me?

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Chess - Proactive or Reactive

When engaged in Chess, It is always best to be proactive in your thinking. Your first move sets the tone for all future moves. Acting first (Proactive Thinking) keeps you ahead. Responding after the fact, (Reactive Thinking) means you are playing catch up.

Strategic Thinking

Once engaged in Chess, one needs to have at least three possible next moves in mind to help assure of having all contingencies covered. The same is true with Retirement Plans.

Strategic Planning

Understanding the possible impact of these three possible moves means you are keeping an eye on all of the factors that could cause either a negative or positive impact on your retirement plans.

Exit Strategy

Always having a clear picture of the end game keeps the Stategic Thinking and Planning in tune with your future as your retirement plans mature.

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Why a Cash Balance Pension Plan

 

Cash Balance Penion Plans are a type of Defined Benefit (DB) plan that provide many advantages for the business owner. There are many factors that contribute to the benefits of a Cash Balance Pension Plan, especially when looking at your plan from a dynamic or "strategic" approach. Some of these benefits are that this type of DB plan will:

1. Provide for higher yearly deductions,
2. Allow for a higher percentage of plan contributions to be given to favored individuals,
3. Make it easier for the small business owner to understand,
4. Minimize runaway costs - particularly regarding shorter service older participants,
5. Mean that fluctuations (especially lowering) of interest rates do not cause unexpected increases in costs,

Cash Balance Pension Plans are easy to manage and afford a large measure of control over all aspects of your pension plan.

Cash Balance Pension Plans easily integrate with an existing or new Defined Contribution (DC) plan such as, a Profit Sharing Plan, a Profit Sharing/401(k) Plan, and DC plans having a Safe Harbor feature.

Take a look at our Cash Balance Combo Plans shown on the home page.

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