Download The Action DocFor the most part, the news about Defined Benefit plans lately has not been particularly good. Whether a big company could no longer fund its plan or how it was bankrupting their business, headlines have discouraged many businesses from seriously considering a DB plan.But it’s time to take another look because, for smaller, more mature companies, DB plans can be a great vehicle to help employees prepare for retirement.You may be surprised to learn that they are...

Cash Balance plans allow six-figure annual contributionsMost people can contribute to their 401(k) without worrying about exceeding the annual contribution limit. If you’re under 50 years old, that’s $18,000 a year. If you’re 50 or older, it’s $24,000.A small, but important segment of the population, though, has the ability to contribute significantly more to their retirement accounts. For some of them, a profit-sharing plan and 401(k) ups the saving limit to $60,000. But...

A compelling feature of a 401(k) type retirement plan has always been the opportunity to contribute money from your current income on a pre-tax basis today - let it work for you over the years - and then pay taxes on the accumulated balance as you withdraw it in future. That’s a real attraction to many company owners and their workers. But what if you flipped this - and contributed money to your retirement savings account with post-tax dollars that you invested over time- and then had the oppor...

Although it's certainly true that not enough Americans are saving for retirement, it's also true that the many millions who are saving do so through an employer-sponsored defined contribution 401(k) plan. And as you may well know, 401(k) plans tend to generate a considerable amount of financial activity. The mobility of today's workforce means employees often request distributions when they move from one employer to another. Rollovers are common, too, as are hardship withdrawals.