Explore the IRS Contribution Limits 2025 and learn how inflation adjustments can maximize retirement savings for individuals and employers alike.
Read MoreWelcome to the Pension Deductions Blog, your ultimate resource for all things related to pension schemes and retirement planning resources. We are committed to providing you with the most current and comprehensive updates on pension schemes, helping you stay informed about the latest changes, trends, and news in the pension industry. Our goal is to empower you with the knowledge and tools needed to make informed decisions about your retirement future.
Learn how the Social Security Administration impacts retirement in 2024, including benefit calculations, eligibility, and strategies for maximizing your Social Security income.
Read MoreWe provide the pension scheme updates and retirement planning resources to keep you informed. Staying current with changes in pension legislation, economic trends, and retirement planning strategies is essential for making informed decisions about your retirement. Our blog ensures you have access to the most relevant and timely information.
Our blog features articles from pension planning experts who share their knowledge and experience. These insights can help you understand complex pension concepts and apply best practices to your own retirement planning. Our experts break down technical jargon and offer practical advice that you can implement immediately.
Find actionable pension planning tips and tricks to enhance your retirement strategies. Our blog posts cover a wide range of topics, from choosing the right pension plan to maximizing your contributions and investments. We aim to provide you with practical solutions that can help you achieve your retirement goals.
Access detailed retirement planning resources and guides that cover all aspects of retirement planning, from early career to post-retirement. Our guides are designed to be user-friendly and informative, offering step-by-step instructions and tips for every stage of your retirement journey. Whether you're looking for basic information or advanced strategies, our guides have you covered.
Subscribe to our newsletter to receive regular updates on pension scheme news, planning tips, and retirement planning resources. Stay connected with us to ensure you have the latest information and resources to make informed decisions about your retirement. By joining our community, you’ll gain access to exclusive content, expert advice, and a supportive network of individuals who are also planning for their retirement.
Learn how the Social Security Administration impacts retirement in 2024, including benefit calculations, eligibility, and strategies for maximizing your Social Security income.
Read MoreContact Us
If you have any questions or need personalized advice, feel free to contact our team of pension planning consultants. We are here to help you navigate the complexities of pension planning and make the best decisions for your retirement future. Reach out to us through our website or call us directly for expert assistance.
Hi ,
The information you have provided is as follows:
Three year average income:
Participant’s age:
A participant with the above mentioned parameters can accumulate
(Lump Sum at Retirement Amount) till he reaches an assumed retirement age of (Retirement Age) . In the first year, a maximum contribution of (Maximum Contribution) can be made to the plan.
A plan can be incorporated at any time during the year, and within a certain time in the following year. The funding of the defined benefit plan can also happen any time before the company files its tax returns.
If you have employees, the IRS mandates you to make available a retirement plan for employees as well. Depending on the plan design, you will be required to contribute an amount of 3% to 7.5% of the employee wages in a profit sharing plan. We will consult with you to come up with the best plan design based on your circumstances and company demographics. Our Census Request Form will be emailed to you which has to be filled and sent back to info@pensiondeductions.com .
Please enter your email address below. A comprehensive report shall be emailed to you outlining the further steps you need to take in order to get started with a defined benefit plan.
Please note that these contribution amounts are approximate amounts and only for the first year of the plan. These amounts still need to be certified by an actuary and contributions should not be made based only on the amounts generated by the online calculator without consulting an actuary.
Request a call back from a Pension Consultant
Please enter your email address below. If you do not receive our email in a few minutes, please check your spam folder.