Counter Point’s Senior HCM Consultant, Ron Lustberg, recently sat down with Steven Puckett of Fiduciary Pension Partners and Denise Herrick of SNAP TPA LLC for a brief, yet informative webinar to discuss a retirement plan and plan design that brings maximum benefits to business owners. With Cash Balance Pension Plans, employees have the opportunity to put away more money for retirement than with traditional 401k plans. The benefits of a Cash Balance Pension Plan vs. a traditional benefit plan include:
- A significant tax advantage over profit-sharing plans
- No contribution limits
- Money can be taken out in the form of a monthly annuity or cash out as a lump sum payout
- Ability to roll over to existing 401k or profit-sharing plan, or IRA
- Manageable administrative burden – similar to that of a 401k plan
Learn more about Cash Balance Pension Plans, the benefits, and plan design considerations. Click here to access the 15-minute webinar.
