High-earning business owners often max out their 401(k) and still want to save more and lower their tax bill. A cash balance plan can let them put away far more each year on a tax-deductible basis. In this episode, I explain how these plans work, which businesses are a good fit, and how they pair with a 401(k) and profit sharing plan. I also cover the commitments that come with them, including required annual funding, coverage and testing rules for employees, and what happens if the business has a bad year. This episode is for business owners, CPAs, and financial advisors weighing whether a cash balance plan makes sense.

ERISA requires plan fiduciaries to act for the exclusive benefit of participants. On this podcast, Angela Stockbridge does the same for listeners. The Exclusive Benefit explains retirement plans, health and welfare benefits, and executive compensation in plain English. Each episode takes on a real issue that plan sponsors, HR professionals, CPAs, and financial advisors face, such as compliance deadlines, plan corrections, required minimum distributions, and benefits in M&A deals. Get practical guidance on what the rules require, where the risks are, and what to do next, without the legal jargon.

This podcast may be considered attorney advertising. This podcast is not presented for purposes of legal advice or for providing a legal opinion. Before any of the presenting attorneys can provide legal advice to any person or entity, and before an attorney-client relationship is formed, that attorney must have a signed fee agreement with a client setting forth the firm’s scope of representation and the fees that will be charged.

This Podcast is Hosted by:
Falcon Rappaport & Berkman LLP
1185 Avenue of the Americas, Suite 1415
New York, NY 10036
(212) 203-3255
info@frblaw.com