Pension Plans
While traditional pension plans are becoming less common there are still cases where these plans make sense and they can lead to big tax savings for the business owner. Below is a summary of the plan features:
| Type of Company | No restrictions |
| Establish Deadline | December 31st |
| Max EE Deferral | Not applicable |
| Employer Contribution | Actuarial Formula |
| Annual Admin Cost | $5,000+ |
| Investments | Pooled Managed Account |
Pension plans are considered “defined benefit plans” because the benefit it express as a monthly payment at some future age. For example, at age 65 you will receive $1,600 per month for the rest of your life. Where we still see these plans being used are companies with less than 20 employees, where the owner of the company has a very high level of compensation, and it looking for ways to reduce their tax liability. We have designed pension plans that have allowed each owner to contribute over $300,000 per year all pre‐tax. These pension plans can still be powerful a tool for the right type of company.
Welcome To Our Virtual Retirement Plan Services
For companies located outside of the Capital Region, we designed a virtual employer sponsored retirement plan platform that allows us to offer our clients:
- Easy Plan Setup
- Plans Consulting
- Low Fees
- Flexible Investments
- No Call Centers
- Employee Education (if applicable)
- Retirement Planning
- Video Conferencing For Review Meetings
Contact Us . . .
All of our services start with a complimentary consult. We can assist you in determining which plan is the right fit for your company.