Has anyone ever dealt with the consequences of of an overfunded Cash balance plan?
Situation is other doctor and I are selling our practice and we have approximately 500K surplus in plan according to actuary.
As it stands looks like we could be on hook for a 50% excise tax on that amount!
Any thoughts?
Situation is other doctor and I are selling our practice and we have approximately 500K surplus in plan according to actuary.
As it stands looks like we could be on hook for a 50% excise tax on that amount!
Any thoughts?
