Question
Iris, a business owner, is interested in adding a Qualified Plan to save money for her retirement and help her employees as well. She is
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Iris, a business owner, is interested in adding a Qualified Plan to save money for her retirement and help her employees as well. She is substantially older than most of her employees and wants to skew much of the contributions towards her own retirement. She is comfortable committing to required contributions every year. She also does not want to be limited to $57,000 a year of contributions to her own account and wants to reward herself for his past years of service in building the company.
What plan would be best for Iris to adopt?
Cash Balance Pension Plan
Age-Based Profit Sharing Plan
New Comparability Plan
Target Benefit Pension Plan
Iris, a business owner, is interested in adding a Qualified Plan to save money for her retirement and help her employees as well. She is substantially older than most of her employees and wants to skew much of the contributions towards her own retirement. She is comfortable committing to required contributions every year. She also does not want to be limited to $57,000 a year of contributions to her own account and wants to reward herself for his past years of service in building the company.
What plan would be best for Iris to adopt?
| Cash Balance Pension Plan | ||
| Age-Based Profit Sharing Plan | ||
| New Comparability Plan | ||
| Target Benefit Pension Plan |
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