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Defined Benefit Plans

A defined benefit plan promises a plan participant a specific monthly benefit at retirement and may state this as an exact dollar amount. Monthly benefits could also be calculated through a formula that considers a participant’s salary and service. For a select group of business owners, particularly older business owners with high salaries, this plan allows for the ultimate in tax-deductible contributions. No retirement plan beats the Defined Benefit Plan. Depending on circumstances, your client may be able to contribute in excess of $170,000 per year in such a plan.

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For more information, call 800-604-9368 ext. 2403 or email

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Securities and Investment Advisory products are provided by UVEST Financial Services, Member FINRA, SIPC and a SEC Registered Investment Advisor. UVEST and Champaign Wealth Management are independent entities.

 

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