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Many owners and partners are looking for larger tax deductions and accelerated retirement savings. Cash Balance plans may be the perfect solution for them. 2006 legislation is encouraging more and more professionals and successful business owners to adopt this type of plan.
A Cash Balance plan is a defined benefit plan that specifies both the contribution to be credited to each participant and the investment earnings to be credited based on those contributions. Each participant has an account that resembles those in a 401(k) or profit sharing plan. Those accounts are maintained by the plan actuary, who generates annual participant statements.
To learn more about Cash Balance Plans, visit our website dedicated to these plans at www.CashBalanceDesign.com
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