Planning for Retirement Needs. Pension and Retirement Planning Overview Chapter 1. Business opportunities in the pension field What types of plans are available? Why have tax-advantaged retirement plans? From the employee’s perspective From the employer’s perspective
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Pension and Retirement Planning Overview
Any example must at the top and stay at the top of income level.
For solving liquidity problems that occur at retirement or death
For sheltering their assets from legal liability and bankruptcy
For avoiding taxes on excess accumulated earningsWhy Businessowners Need Qualified Retirement Plans
Participants become fully vested
Notification to government
Benefits distributedPlan Termination
11. Business owners are often concerned about protecting assets from creditors in cases of bankruptcy or lawsuits.
12. A business owner is often concerned about the cost of providing benefits for the rank and file employees.
Tax exempt trust
Employee tax on withdrawal
8 Qualified plans
3 other tax-sheltered
No design restrictions
Matching tax rule
Compare pre-tax and post-tax savings
Attract and retain
Unions and pensions
Can exclude under coverage
Maximize tax shelter
Accumulated earnings tax
LiquidityChapter 1 Review