Posts Tagged ‘defined benefit’

Luncheon w Senator Dean Heller (R-NV) and LV Chamber of Commerce

August 21, 2014

Parker ElmoreOn August 20th, I was able to attend a great luncheon with Sen. Heller and the Las Vegas Chamber of Commerce.  We got to hear Sen. Heller’s views on the current dysfunction in Washington, DC and the appropriate role of the Federal Government (National Defense, Commerce/Infrastructure & Safety Net).  While he discussed the recent highway bill patch (“HAFTA”), he noted that a full highway bill will be required by May 2015 and that revenues will be needed.  Given that pension & retirement plans have recently become a revenue target, that is something on which those in the retirement community (plan sponsors, participants, investment advisors, etc.) will need to focus.

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Good article on Cash Balance Plans

January 6, 2009

The January 2009 edition of the Journal of Accountancy has a great article about the cost/benefits of Cash Balance retirement plans (http://www.journalofaccountancy.com/Issues/2009/Jan/PlanDesignInTheBalance.htm).  I promise it’s not too long or overly technical, but it shows why these plans can provide great tax benefits and the ability to save for retirement in amounts well beyond the $49,000 annual limit in traditional defined contribution plans.  And, you can maintain your existing investment relationships as there is no requirement to “bundle” the design & administration of the plan with the investments.

I’m happy to share more about why a cash balance or other retirement plan does or does not benefit your business, but figured this provides a unbiased view and some basic education.  While your retirement plan  may have suffered during 2008, this provides you a vehicle for far greater retirement funding & tax deductions.