Not sure if a Cash Balance Plan is the right fit?
Answer these three questions to see if it could be a smart move for your retirement and tax strategy.
- Are you a business owner, self-employed, or part of a professional firm (e.g., law, medical, consulting)?
- Is reducing taxable income a high priority for you?
- Do you have steady business income to support higher retirement plan contributions each year?
If you responded 'Yes' to each question, you are in a great position to take advantage of the benefits a Cash Balance Plan offers.
Not sure if a Non-Qualified Deferred Compensation Plan is the right fit?
- Do your top employees wish they could save more and reduce their current income tax burden?
- Is your organization in a competitive market to attract and retain key talent?
- Would your organization like to better tie the rewards of key employees to the success of your company?
- Do you wish to have more flexibility in your plan than traditional 401(k) plans allow?
Begin with a strategic assessment of your company’s financials, leadership goals, and employee demographics. Determine whether a Cash Balance Plan, NQDC, or hybrid solution aligns best with your long-term retention and tax strategies.
Design plan features, from contribution limits and vesting rules to payout structures. Work closely with legal, tax, and actuarial experts to ensure regulatory compliance and implement funding tools where needed.
We coordinate with your team and advisors to execute plan documents and establish trust or investment vehicles. Establish administrative systems, educate participants, and guide them through initial enrollment and elections.
Monitor plan performance, track contributions, and review compliance with current regulations. Update the plan as the business evolves to ensure continued alignment with company goals and executive needs.