Defined Benefit Plan

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December 4, 2013

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Putting corporate income into a retirement plan can offer you immediate tax savings, as well as long term benefits. One of the most beneficial retirement plans is a defined benefit plan, especially for individuals who want to retire within 7 to 15 years and have significant dollars to contribute. Compared to other plans established, the payouts of defined benefit plans can be much larger because the limits on contributions are much higher as your age increases. The closer you are to retirement, the more you can contribute on a tax-advantage basis. All contributions are tax-deferred and are considered a corporate expense. Beyond these tax-deferral and payout benefits, you can also contribute on behalf of non-compensated family members and also take loans against the plan.

To learn more about a defined benefit plan, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.

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