Cash Balance Plans

[emergentmd]

I am a single Member LLC owner and looking into Cash Balance Plans. Anyone have one set up and what pros/cons have you seen. Any recommendation on who you use for actuarial services and the investment broker?

I believe Schawb does it in house (Actuarial + Broker) and leaning towards them for simplicity. Anyone have one with Schwab and what has your experience been?

Doing online calculations based on age, I believe I can fund around 230K/yr plus I believe I am eligible to continue my SEP Max.

Any advice and thoughts would be great as I am at a point in life where this makes much sense.

---

Members don't see this ad.

 

[EctopicFetus]

I am a single Member LLC owner and looking into Cash Balance Plans. Anyone have one set up and what pros/cons have you seen. Any recommendation on who you use for actuarial services and the investment broker?

I believe Schawb does it in house (Actuarial + Broker) and leaning towards them for simplicity. Anyone have one with Schwab and what has your experience been?

Doing online calculations based on age, I believe I can fund around 230K/yr plus I believe I am eligible to continue my SEP Max.

Any advice and thoughts would be great as I am at a point in life where this makes much sense.

Will send DM.

 

[maxxor]

Will send DM.

Emparion offers this. They can give you a free illustration. They are popular in Radiology circles. I am not successful enough to need their services yet but maybe in a couple years 🙂

You need a certain amount of cash to dedicate to this for a couple years but it can be worth it.

 

[emergentmd]

Emparion offers this. They can give you a free illustration. They are popular in Radiology circles. I am not successful enough to need their services yet but maybe in a couple years 🙂

You need a certain amount of cash to dedicate to this for a couple years but it can be worth it.

Good to know. They seem to be one of the big boys when it comes to this. I am at the point where this makes sense over any other options to save $$$ and keep it from the gov as long as I can.

Plus, I think at my age, I can create one now and then terminate in 10 years then create a new one before retirement.

 

[EctopicFetus]

Good to know. They seem to be one of the big boys when it comes to this. I am at the point where this makes sense over any other options to save $$$ and keep it from the gov as long as I can.

Plus, I think at my age, I can create one now and then terminate in 10 years then create a new one before retirement.

As mentioned. Depends on how much you want to put in. There is a lifetime limit.

 

[Jabbed]

As mentioned. Depends on how much you want to put in. There is a lifetime limit.

I think he’s implying that he is planning to max the $3.5M limit and then create a second plan to work around that.