Define Benefit Plan
A Define Benefit Plan is considered a qualified retirement plan, so the contributions are tax-deductible. They can be implemented along with your existing 401k plan.
Ideal Candidate
- A small business owner who is maxing out their 401k and wants to contribute additional tax-deductible contributions.
- Forty years of age and older.
- Has consistently high W-2 or Self Employment income
- Can contribute $50k or more.
- Wants to protect their savings from creditors.