This article has been updated for 2021. A side business provides a great opportunity to save for retirement. In fact, a business owner may be able to save and deduct most or all side business income using a Defined Benefit Plan. SEP and 401(k) Plans significantly limit retirement contributions. Defined Benefit Plans, on the other […]

Side Business Defined Benefit

August 26, 2019

The Side Business Defined Benefit Plan. When a Solo K Isn’t Enough.

This article has been updated for 2021. If you have a Defined Benefit Plan, it may be covered by the PBGC. What is the PBGC? How does PBGC coverage impact your Defined Benefit Plan? We will answer these and other questions in this article.   What Is the PBGC? The Pension Benefit Guaranty Corporation (“PBGC”) […]

PBGC Small Defined Benefit

August 22, 2019

PBGC and Small Defined Benefit Plans. What You Should Know.

Your Defined Benefit Plan Attorney Do you sponsor a Defined Benefit Plan? If so, a pension attorney is an important part of your team. Pension attorneys, also called ERISA attorneys, have expertise in laws and regulations related to Defined Benefit Plans. For small Defined Benefit Plans, pension attorneys work closely with Defined Benefit actuaries and […]

Pension Attorney

August 19, 2019

The Pension Attorney. A Legal Resource for Defined Benefit Plans.

This article has been updated for 2021. What Is the Schedule SB? The Schedule SB is an attachment to the Form 5500 series. The schedule reports the funding adequacy of the Defined Benefit Plan. An Enrolled Actuary must certify the figures on the form. Importantly, the Schedule SB does not show the maximum deductible contribution. […]

Schedule SB

August 15, 2019

Schedule SB – Defined Benefit Plan Actuarial Information

This article has been updated for 2021. How could a business owner deduct a $900k contribution that is used to fund his own retirement? How is such a large contribution possible when SEPs and 401(k) Plans are limited to ~$60k per year? The answer lies in combining the power of several individual strategies. Strategies that […]

Defined Benefit Contribution Front-load

August 7, 2019

How a Business Owner Deducted a $900k Retirement Contribution in One Year