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IRS SECURE 2.0 “Grab Bag” Guidance – Cash Balance Plans

…credits may do so prospectively, so long as they do not reduce a participant’s “accumulated benefit” (that is, the balance in the participant’s cash balance account) “determined as of the end of the interest crediting period that includes the applicable amendment date.” In other words,…

How Does A Cash Balance Plan Work?

CASH BALANCE PLAN INSTEAD OF A TRADITIONAL DEFINED BENEFIT PLAN? Cash balance plans have proven to be an attractive alternative to traditional defined benefit plans for several key reasons. By converting a defined benefit plan to a cash balance plan, the employer avoids the need…

Demand Stays Strong for Cash Balance Plans

…the most valued employees gains greater significance as employers navigate the challenges of the COVID-19 pandemic crisis. That’s why now is the best time to start — or expand — your Cash Balance Plan business. *Disclaimer: This recording is not eligible for Continuing Education Credits….

Cash Balance

…more than $150,000 annually to a Cash Balance plan. A 60-year-old can contribute more than $260,000. The actual amount depends on your income and age. You can also pair a Cash Balance plan with a traditional 401(k) to reward key executives and provide even more…

Cash Balance 101

It’s the time of year when your clients may be looking for opportunities for greater tax deductions. A cash balance plan could be the answer – but – how do you know if your client is the right fit for this solution? How do you…

The End is Near!..or is it? -Part Two

…Income Statement, rigidly defined and almost impossible to stretch. Free Cash Flow, while still an accounting derivative, is reconciled on the Cash Flow statement, and must tie to cash – again, harder to manipulate for cosmetic appearances. So what are these measures telling us? On…

Retroactive 2021 Tax Planning; Overlooked Deductions and Credits

…employee pension (SEP) plans have historically followed the above schedule; and special set-up rules apply for safe harbor 401(k) plans.] Establishing a plan retroactively can be particularly appealing if the business owner establishes a defined benefit plan, such as a cash balance plan. Cash balance