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Click to create your proposal. |
Would you like to contribute more than 25% of your income or more
than $49,000 into an IRS Qualified Retirement Plan?
A Benetech Defined Benefit Plan may be ideal for you. A Defined Benefit Plan is best suited for businesses where the only employees are an owner only, or an owner and spouse. The Defined Benefit Plan is the only plan that may allow you to contribute more than $200,000 per year on a pre-tax basis into a retirement plan.
- All Contributions are tax
deductible and tax deferred until distribution.
- Annual contributions may exceed $200,000.
- Accumulations at retirement may exceed $2,200,000.
- Normal retirement age may be as low as age 62.
- All plan assets are directed by the Plan Sponsor.
- Any business entity may establish a Defined Benefit Plan. (Sole Prop,
Partnership,
Corporations, LLC or LLP)
- If business conditions change, the plan may be amended to adjust annual
contributions,
either lower or higher. To lower contributions for a Plan Year, the Plan
would need to be changed early in the Plan Year
Compare an Owner Only Defined Benefit Plan with a Deferral 401(k) Plan to an Owner Only 401(k) Plans.
|
Age |
W-2 Wages |
DB & 401(k) Contribution |
401(k) w/ Profit Sharing Contribution |
Defined Benefit Advantage |
|
45 |
$190,000 |
$125,747 |
$49,000 |
$76,747 |
|
50 |
$190,000 |
$170,004 |
$54,500 |
$115,504 |
|
55 |
$190,000 |
$181,441 |
$54,500 |
$126,941 |
|
60 |
$190,000 |
$228,989 |
$54,500 |
$174,489 |
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Click to create your proposal. |
Note: Adobe Acrobat is needed to view proposal. Click to download.
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