Highlights
- The most popular plan for building retirement savings quick!
- By a predetermined formula, a defined benefit plan must provide for the payment of definitelydeterminable retirement income benefits.
- Benefits and contributions under a defined benefit plan are not based upon profits.
- Contributions are tax deductible.
- Annual contributions may exceed $150,000 for a single owner.
- Accumulations at retirement may exceed 2,000,000.
- Retirement Age may be as low as 55.
- Annual Contributions are flexible.
- A defined benefit plan is subject to the IRS minimum funding standards.
- Allows accumulation of maximum retirement benefits in the shortest time.
Defined Benefit Examples
- $151,000 annual contribution: Age 60, earning $200,000.
- $54,000 annual contribution: Age 40, earning $70,000.
- $110,000 annual contribution: Age 50, earning $110,000.