One Stop Pension Shop

   

This is your one stop shop for Pensions.  Here you will find a Pension Plan comparison chart, detailed plan outlines and a Million Dollar Sales Idea.  

 

I would like to outline a sample plan below for a Dentist Office an agent just wrote.  

Mr. Dentist's office makes $600,000 per year.  He currently is paying $180,000 in taxes and putting away about $24,000 into his current 401k plan.  He is 56 years old and would like to retire in 6 years. He has spent his whole life building his practice, so his retirement accounts do not have the values he wishes they did.  We decided to write a Defined Benefit Pension plan for him. Below are the plan details. 

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2015 contribution into a Defined Benefit Plan.  $325,000

He plans on contributing $325,000 per year for the next 6 years

The portion of the $325,000 that goes into his own pocket is $305,000.  He has a staff of 3 other people.  An office manager and two dental hygienists. His office manager gets a contribution made for her of $8,000 and the two hygienists get $6,000 each.  

His taxes dropped from $180,000 to $50,750.  So out of the $325,000, $129,200 is money that used to go to the IRS.  He now gets to keep that money.  

Over 6 years he will save $775,500 in taxes and have a Pension value of around $2,560,120.00.

 

Do you have a high compensated business owner that would benefit from a plan like this?  If so here is a Pension Cencus.pdf form and you can submit it to dustinweaver@tagpartners.org  with details about the business and I can work up a quote for you.  

 

Did you also know that you can hold qualified money within a Defined Benefit Plan?  Clients can put up to 66 2/3% into a whole life policy, and the rest into an annuity.  The life insurance can be used for a buy sale so the client can eliminate that company expense.  

Lastly, the agent that wrote this case made a commission north of 100k. 

 

If you have questions please contact me at dustinweaver@tagpartners.org or call me direct at 612-730-2963.

 

Agent Sales Materials 

412e3.pdf

Cash Balance Plan.pdf

Fact Finding Census.pdf

Million Dollar Sales Idea.pdf