403b Vs 401k: Which is Better for Retirement?
Explore the key differences between 403b vs 401k plans. Understand their features, benefits, and who should choose each for optimal retirement savings.
Explore the key differences between 403b vs 401k plans. Understand their features, benefits, and who should choose each for optimal retirement savings.
Discover how inflation impacts on your retirement income. Learn strategies to safeguard your savings and maintain purchasing power in an uncertain economy.
Explore the 403(b) Tax-Sheltered Annuity Plan for public and non-profit employees, highlighting tax benefits, contribution limits, and investment options for retirement.
Explore the difference between a pension plan and a 401(k). Compare benefits, funding, control, and tax impacts to make the best choice for your retirement.
Explore the best age to claim Social Security benefits 62 vs 67 vs 70 with our comprehensive guide on maximizing your retirement income.
Retirement Plans for Small Business Owners As a small business owner, you probably wear a lot of hats. From managing employees to overseeing operations, it
Social Security COLA 2025: What You Need to Know. As we look ahead to 2025, one of the most critical topics for retirees and those
Introducing Inflation and Contribution Volatility in 2024 One of the most pressing issues in retirement planning is managing the impact of inflation on contribution volatility
Life Insurance in a Qualified Retirement Plan In today’s complex financial landscape, integrating life insurance within a qualified retirement plan presents a compelling strategy for
The 457 deferred compensation plan is a vital retirement savings option for employees of state and local governments, as well as certain non-profit organizations. As
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.