B.O.S.S. Chapter 3: Defined Benefit & Cash Balance Plans
Josh & Jay welcome Will Steih, Managing Director or Prime Capital Investment Advisor’s Tennessee office, to the studio for Chapter 3 of 5 in our B.O.S.S. Series, a discussion about Defined Benefit & Cash Balance Plans. Why should a business owner consider a Defined Benefit Plan? A business owner has fully funded their 401k – how can they layer a Defined Benefit Plan on top to provide additional future retirement income? How does a Defined Benefit Plan affect a business owner’s overall tax strategy & tax efficiency? Listen in to hear important concepts & solutions to consider!
> There has been a resurgence in Defined Benefit Plans in businesses with up to 50 employees
> Defined Benefit Plans tend to appeal to business owners with an appetite for additional savings above their 401k contributions
> A Defined Benefit Plan can be used to fund retirement income needs above qualified plan contribution limits
> A Defined Benefit Plan is generally set up to be more conservative than a typical qualified retirement plan
If any of these topics apply to your situation, we can help! Reach out to us at 251-327-2124, or email [email protected]