Secure Your Retirement with a Solo Defined Benefit Plan
Introduction As a self- employed individual or small business owner, saving for retirement is an important consideration. While there are many retirement plan options available, a solo defined benefit plan is a lesser- known retirement plan that can offer significant benefits for those who qualify. Unlike defined contribution plans, like a 401( k), where the […]
How Does Cash Balance Pension Plan Work?
Introduction A cash balance plan is a type of defined benefit pension plan that offers participants a fixed account balance upon retirement. Contributions are made by the employer, who guarantees a minimum rate of return. The plan is portable, so employees can take their vested balance with them if they leave the company. Cash balance […]
Maximizing Retirement Benefits with a Fully insured Defined Benefit Plan
Introduction A fully insured defined benefit plan is a type of retirement plan that provides employees with a guaranteed retirement benefit. In this plan, the employer guarantees a specific amount of retirement benefits to workers, which is ensured by an insurance company. This type of plan is highly beneficial for retirement savings because it offers […]
