RPS Blog

Part 1:  What is a Cash Balance Plan?

We are living in a land of increasing corporate and personal tax rates and we have money we are trying to hide (at least temporarily) from the government.  What is a good solution for my company's retirement plan in order to avoid (again, temporarily) taxes, benefit employees and increase retirement savings?  Is it a 401(k) plan, a profit sharing plan, a SIMPLE, or...even more complex, a Cash Balance Plan???

If you or your client is one of the thousands of business owners that have a SIMPLE IRA retirement plan, then you may want to reconsider the options.  Below are 3 reasons a 401(k) is better than a SIMPLE (Savings Incentive Match Plan for Employers) IRA.