Robin Weingast featured in the March 2014 Suffolk Lawyer

Robin Weingast featured in March 2014 Suffolk Lawyer sharing her benefit planning expertise.Employee benefit expert Robin Weingast recently shared her 30+ years of knowledge with the Suffolk Lawyer, the official publication of the Suffolk County Bar Association. In “Cash Balance Defined Benefit Retirement Plans—How to Increase Your Tax Deductible Plan Contributions,” Weingast explores if adding a Cash Balance Defined Benefit Plan is a good fit for your company.

As you know, we are currently exploring Cash Balance Plans in our special series (catch up on part 1 and part 2), and in her article for the Suffolk Lawyer, Robin goes into detail on the many advantages of a Cash Balance Defined Benefit Plan, including:

1) The potential for larger tax deductible contributions than permitted under Defined Contribution (401(k) Profit Sharing Plans) for owners and key employees—which shelters your business profits from taxes

2) Tiered benefit levels, allowing partners and employees to have different levels of contributions

3) A greater appreciation of the plan and its benefits by your employees

4) Less volatility and cost

5) Greater funding flexibility

 

The article also explores if a Cash Balance Defined Benefit Plan is a good fit for your company, and breaks down the many factors to consider, including company demographics (including the age of your staff and your age relative to them), taxes, and if your company has the resources to offer this type of plan.

These are just a few of the many insights offered in the piece. You can download the full article here..

Above all, any benefit plan needs to be thoughtfully constructed and carefully managed by a qualified team of experts. As always, Robin Weingast and her firm of enrolled actuaries, certified pension and employee benefit consultants, and financial and insurance advisors are available to discuss your options for a customized, tax-favorable, and innovative retirement program that is current with ever-changing tax laws. Contact the Robin Weingast team today for more information.

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