How small business owners can use Cash Balance plans as a Defined Benefit retirement option

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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 Business Owner Strategies & Solutions (B.O.S.S). Series, a discussion about Defined Benefit & Cash Balance Plans. We discuss why a business owner would consider a Defined Benefit Plan and how a business owner with a fully funded 401k can layer a Cash Balance Plan on top to provide additional future retirement income. We also discuss how a Defined Benefit / Cash Balance Plan affects a business owner’s overall tax strategy & tax efficiency.

Key Takeaways:

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

Show Links:

https://gulfcoastfa.com/

https://gulfcoastfa.com/401k-forum

https://pciawealth.com/

https://qualifiedplanadvisors.com/

https://fitrusts.com/

https://everydollarcounts.libsyn.com/

http://jaystubbs.com/

https://www.firstprotective.com/

https://www.deepfriedstudios.com/

https://www.slothracerband.com/

Resources: