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• Lifestyle Defined Benefit Plan
• Lifestyle Cash Balance Plan
• Small Business 401k and Safe Harbor 401k
• Profit Sharing Plan

• Business owners with 20 or less employees
• 35 to 70 years of age
• Earning $75,000 or more annually
• Able to contribute a significant amount of earned income for 3 years or longer

 

Age	Level Contribution*	150% Rule**
35	40,400	60,600
40	55,100	82,650
45	77,000	115,500
50	107,000	160,500
52	122,900	184,350
55	146,700	220,050
57	167,600	251,400
60	199,800	299,700

 

The Lifestyle DB Plan is created and administered by a Third Party Administer (TPA). They are responsible for creating the plan documents, computing the annual actuarial calculations and filing necessary forms. Plans must be established by the business’s fiscal year end and funded prior to filing of business tax return. Once funded the assets are managed by Lifestyle Portfolio’s in accordance with the plan goals and actuarial guidance calculations.

Download the Defined Benefits/Cash Balance Survey and fax/email us the completed form. Within a couple of days we will provide you with one or more scenarios specific to your situation.  

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The Lifestyle Cash Balance Plan is a type of defined benefit plan that has the characteristics of a defined contribution plan. Each year a participant's account is credited with a pay credit and an interest credit. The pay credit is dependent upon each participant's compensation. The growth of the participant's accounts depends on pay credits that the employer contributes. A cash balance plan offers more portability than traditional pension plans since you can take your vested account as a lump sum whenever you terminate employment.

 

Any company with significant free cash flow who's owners in their 40’s or 50’s with more than 5 employees. Contractors who currently contribute to a Safe Harbor 401k for “prevailing wage” can benefit significantly from this plan.

 

The Lifestyle Cash Balance Plan is created and administered by a Third Party Administer (TPA). They are responsible for creating the plan documents, computing the annual actuarial calculations and filing necessary forms. Plans must be established by the business’s fiscal year end and funded prior to filing of business tax return. Once funded the assets are managed by Lifestyle Portfolio’s in accordance with the plan goals and actuarial guidance calculations.

 

Download the Defined Benefits/Cash Balance Survey and fax/email us the completed form. Within a couple of days we will provide you with one or more scenarios specific to your situation.  

 

The 401k is the most popular plan available today. In this plan, an employee chooses an amount to contribute each pay period from his paycheck. This amount is taken out of the paycheck on a pretax basis, so the employee immediately defers taxation. The earnings on the deposits also accumulate tax deferred. An employer may also match the employees' deferral, usually as a percentage of the amount contributed. These types of plans can also be designed under new "Safe Harbor" formulas to automatically pass discrimination requirements.

 

401k plans are most beneficial to larger companies or companies with owners less than 35 in age who have lost the exclusive advantage of a SEP IRA. 401k and Safe Harbor 401k plans can be paired with other retirement plans including the Lifestyle DB Plan and the Lifestyle Cash Balance Plan in order to maximize owner saving as well as offer funding flexibility.

 

 

Investment Selection - We will work with you to identify the proper mix of investment alternatives for your plan.  We will then perform a comprehensive screen of the investments available within your plan and recommend a diversified selection of funds for your use within the plan. 

 

Plan Implimentation - We will assist you in coordinating the platform provider and third party administrator as your plan is created and then rolled out to your employees

 

Ongoing Support - Things change over time and we want you to know we will be there to help.  We will conduct an annual review of your plans investment alternatives and make recomendations to you.  We will also be available to conduct periodic lunch and learn seminars for employees interested in learning more about investing and their 401k plan. 

 

 

Top Down Plan Review - If you make us the broker of record for your existing 401k plan we will conduct a complete top down review of your plan.  The review will consist of the following

 

Cost Analysis - We will review the current fund charges, participant fees, annual fees and other fees to make sure that you are receiving optimal pricing for your plan size.

 

Investment Review and Selection - We will evaluate the investment alternatives currently available in your plan with the overall choices available to you and make recomendations for investment changes

 

Enrollment Review - We will review your current enrollment and identify ways to make your plan more effective for both the plan sponser and its participants.

 

If you are not satisfied with your current platform or wish to add a 401k plan to your company call or email us today for a complimentary plan review.

 

 

Profit Sharing plans are the most flexible plan available, because an employer may choose whether or not to make a contribution each year. Up to 25% (for plan years beginning in 2002) of the total eligible compensation of the employees may be contributed. There are also several types of allocation formulas available, many of which benefit owners and/or key employees at a higher rate than the other employees, such as in "tiered" or "new comparability" formulas. Also, a profit sharing plan can add the 401(k) feature above (including the matching feature) and become a 401(k) Profit Sharing Plan.

 

Owners of companies who want flexibility in making contributions. Unlike a defined benefit or cash balance plan contributions are discretionary. 

 

Profit Sharing plans can easily be added to existing 401k and Safe Harbor 401k plans. They can be created as a stand alone account or integrated as part of a new 401k platform.  Contact us today for a complimentary plan review.