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Accelerated Retirement Plan

If you are a successful business owner you recognize the importance of planning for an equally successful retirement. Fortunately, as your level of success grows so do the number of retirement plan choices available when you think beyond the traditional type of plan.

Although the 401(k) plan is the most common retirement plan today for small businesses – it may not be the only plan you should consider since an accelerated retirement plan is more flexible in their design.

The Cash Balance Plan

The Cash Balance Plan offers a robust retirement vehicle that allows for accelerated retirement savings while taking advantage of potentially tremendous tax benefits.

This type of plan uses specific employee classifications to design annual credit amounts for employees. Contributions to fund the annual credit amounts are actuarially determined and are not limited to 25% of payroll. Preferred groups can be provided with higher contribution credits as long as the plan satisfies the applicable non-discrimination requirements.

An advantage is that you can potentially produce significantly higher pre-tax contribution limits, in excess of $200,000 annually (determined by age and company information).

The employer bears the risks and rewards of the investments, and the Plan’s value does not affect the benefit amount promised to participants.

This plan may be right for you if you are:

• Owner or partner wanting to contribute more than $45,000 annually to a qualified retirement plan

• Your company has demonstrated consistent profit patterns
• Owner or partner are over 40 years of age

Owner or partner want the greatest possible share of plan contributions allocated to your own accounts