Results for Defined Benefit

Defined benefit plan white paper: Defined benefit plans are powerful alternatives or additions to 401(k) plans, turning tax dollars into retirement benefits

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CAB 15-8: This Client Action Bulletin provides an overview of several key developments—in the form of IRS guidance, PBGC proposed regulations, and a new law—that have occurred recently for employers that sponsor defined benefit pension plans.

Doeren Mayhew shared new ASU guidance on defined benefit plans as it relates to ASU 2015-04

Current presentation requirements for defined benefit costs lacked transparency and limited the usefulness of financial information, according to stakeholders.

Sole proprietors can establish defined benefit plans in order to reduce their taxes and accumulate significant savings for retirement.

Outsourcing defined benefit plan administration
Defined benefit plans face many administrative challenges as new regulations are enacted, old rules are changed, and companies are reorganized. In the past, it may have been easier to keep defined benefit pension administration in-house with skilled, knowledgeable staff who could calculate benefits using a spreadsheet. But now, the volume and ever-changing rules and regulations have made administration more complex. Out-of-date…

Most systems automatically decrease contribution rates when the market begins to recover, which can cause increased strain on budgets later. Is there another way for a pension plan to meet its funding needs?

Defined benefit plans offer an effective solution for potential shortfalls in retirement savings and advantages to employers.

Business Owners: Learn if a Defined Benefits Plan is Right for You Business owners who want to take advantage of the new 20 percent qualified business income (QBI) deduction under the 2017 tax law may want to consider having not only defined contribution retirement plans, such as 401(k) plans, but also defined benefit plans similar

Outsourcing a defined benefit (DB) plan’s administrative tasks could be advantageous for some companies. The process of gathering data, calculating pension amounts, preparing retirement paperwork, and setting up payments may become too cumbersome for in-house personnel to maintain. In addition, the vast array of regulations may be too much for some administrators to keep up with
In David Benbow ’s recent Plan Consultant article, “Replacing Betty…

The coronavirus pandemic has completely changed the way Americans work and live. Some employers have been on the front lines fighting the virus head on, while others have been forced to close their doors temporarily or perhaps permanently
If your company is one of the “essential” businesses with “essential” personnel – for example, in the healthcare industry – you may be immediately looking to increase the…

As far as determining the funded status of a defined benefit (DB) pension plan, many factors are out of the control of the plan actuary, such as investment performance, liability interest rates, and how much a plan sponsor is able to contribute to the plan. However, the actuary can discuss with the plan sponsor possible funding strategies and policies designed to maintain the funded status of a fully funded plan or to improve the funded status of an underfunded plan
In general, the…

Defined Benefit Plans – A Powerful Tax Strategy for Small Business Owners to Rebuild or Accelerate Retirement Savings

We discuss Cash Balance & Defined Benefit Plans, and specifically, how you can put them to use for your high income, professional practices and small busines...

The defined benefit plan is a powerful tax strategy for high income individuals with self-employment income. It's great for small business owners who want to catch-up on their retirement saving and save a tremendous amount on taxes
Why is a defined benefit plan a powerful tax strategy for high income individuals with self-employment income and small business owners
The small business defined benefit (DB) plan is…

We present the basics of how actuaries determine different liability measurements for DB plans, and their intended purpose

This time of year, CPA firms are thinking and planning ahead for their busiest season. That makes now a good time to consider whether your CPA firm will be operating at peak efficiency. Is your CPA firm making the most of current relationships and doing all it can to expand...

The combination of increased longevity and declines in the coverage of defined benefit pension plans means that increasingly retirees risk running out of...

What is entrepreneurship — and what is it not? Fifteen founders and business leaders shared what entrepreneurship means to them.