different advice for private pensions
Attention
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Business owners
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Law/medical partners
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W2 employees with a side business
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Self-employed
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1099 contractors
The Pension Protection Act is unquestionably the best piece of retirement planning legislation for business owners in decades from a contributory, regulatory and fiduciary perspective. Our actuarial partners have created a unique pre-tax savings program based on the new rules.
Not your father’s pension anymore...
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Owners/key staff can defer 4-20 times more to qualified plan than 401(k) only
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Cost of testing group (select non-highly comp’ed) greatly reduced by new pension law
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A triple tax free retiree medical plan further increases deferrals
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Key man and buy/sell can be made inside qualified plan
All defined pension plans must balance benefits among employees in a non-discriminatory manner. They are complex and not suited for every business. For those it does suit, certified contributions are determined by an enrolled actuary, as licensed by a Joint Board of the Department of the Treasury and the Department of Labor.