WHAT YOU DON’T KNOW MAY RESULT IN THE PAYMENT OF UNNECESSARY TAXES AND LOSS OF RETIREMENT INCOME
The Pension Protection Act of 2006, which took effect in 2008, created a new breed of defined benefit plan called “benefit-focused pension plan".
- This plan allows the business owner to take the largest tax deduction of any qualified retirement plan, Substantially increasing the tax deductions of a regular, traditional/cash balance defined benefit plan.
- Allows the business owners and their families to benefit the most from plan assets while minimizing employee costs
- This plan can provide the greatest financial resources the law allows for the long-term income security at the maximum possible legal amounts for the lifetime of the participants and their spouses