Employer-sponsored retirement plans are generally divided into two primary categories: defined benefit plans and defined contribution plans, both of which are covered by the Employee Retirement Income Security Act (ERISA). Both types of plans provide a variety of advantages to employees and employers but determining which one is the best fit for any given company requires an understanding of the key differences between these plan categories. Let’s examine these plans in more

As many small business owners get closer to retirement, they may have concerns about whether their savings are sufficient for retirement, especially given the current economic state. One way in which business owners can maximize their nest egg is to establish a Cash Balance Plan.

As 2021 is coming to a close it is important to make sure your business has met all the yearly deadlines for managing your company’s retirement plan. If your organization offers a Cash Balance plan as a retirement option, several important deadlines fall in December. If you are considering adding Cash Balance plans as a retirement option for your employees next year, then this is also the time to start learning more about Cash Balance plans and start gathering the information

Cash Balance plans are an increasingly popular retirement plan option, but many business owners are still wondering if they are the right fit for their retirement needs. While Cash Balance plans offer a variety of solutions and fit many needs, there are two primary problems that they can solve for business owners. Let's examine those two problems and how Cash Balance plans provide solutions. Whether Sole Proprietors, Partnerships, or S-Corps, all have to take the company earn

Suppose you are thinking about switching from a traditional pension plan to a cash balance plan for your company and employees. How much will this cost your company? What is a cash balance plan? How does it work? If you have never heard of a cash balance plan these may be questions that you have in this situation. Let's look at what a cash balance plan is so that if a situation like this ever comes up you know what to expect. What is a Cash Balance Plan? A cash balance plan i