Locum Anesthesiology Unions or Associations

[cornealabrasion]

My previous job had a robust retirement plan including 401k/Profit sharing and a Cash Balance Plan and of course health/dental benefits. I was wondering if there are is any union or association of Locum Anesthesia providers out there which can provide similar opportunity for bulk health/dental benefits. I think it's pretty easy to max out 401k/Profit sharing with a solo 401k, but Cash Balance Plans are expensive --- upto 10k per year on operating cost annually -- but being able to shield additional 60k-250k (based on age) from uncle sam is lucrative.

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[PainInTheAnes]

My previous job had a robust retirement plan including 401k/Profit sharing and a Cash Balance Plan and of course health/dental benefits. I was wondering if there are is any union or association of Locum Anesthesia providers out there which can provide similar opportunity for bulk health/dental benefits. I think it's pretty easy to max out 401k/Profit sharing with a solo 401k, but Cash Balance Plans are expensive --- upto 10k per year on operating cost annually -- but being able to shield additional 60k-250k (based on age) from uncle sam is lucrative.

Short answer: no

It’s your cbp, your 401k. If you want bulk benefits you’d need to start a corporation and work with some friends and funnel all the locums money into a single entity.

It would be quite difficult to find people willing to do that though in my opinion. We’re all people with different goals and at that point you’re just forming a private anesthesia group which is a big headache.

 

[kidthor]

I'm not aware of any such group, although many people often bring this up as a goal. I suspect the reason nothing like this has taken off is because it's like herding cats, and as noted it's basically forming some sort of giant private group - but without a common locus/goal/location...

I would think it'd be better to just do all of that solo. I'm surprised a cash balance plan is that expensive, but to be fair I don't have experience with them.. but I wish my employer had one.

 

[cornealabrasion]

I'm not aware of any such group, although many people often bring this up as a goal. I suspect the reason nothing like this has taken off is because it's like herding cats, and as noted it's basically forming some sort of giant private group - but without a common locus/goal/location...

I would think it'd be better to just do all of that solo. I'm surprised a cash balance plan is that expensive, but to be fair I don't have experience with them.. but I wish my employer had one.

I wonder if anyone has experience with setting up a personal cash balance plan.