Advisors Guide to Cash Balance Plans

Cash Balance Plans are a highly effective tool for certain high income business owners who are seeking large tax deductions and effective means to quickly contribute to their retirement savings as they approach retirement age. Ideal candidates include physician-owned practices, dentists and single-owner highly profitable businesses who have principals approaching retirement age.

Nyhart works in partnership with financial advisors, accountants and RIAs to to provide a turn-key service so that you can offer Cash Balance Plans to your clients.

2011 Tax Savings Deadline: December 31

If your clients want to take advantage of a Cash Balance Plan to make a significant savings contribution, they must sign their plan documents by December 31, 2011 to get tax deductions in this current tax year. Actual contribution payments do NOT have to occur by the end of the year.

How to Get Started

If you haven’t yet seen our webinar, view the slides from our “Advisors Guide to Cash Balance Plan” webinar here.

Once you’ve viewed this quick review of Cash Balance Plans, start talking to doctors, dentists and other high-income business owners about how a cash balance plan can work to their advantage. For your clients to get the deductions a cash balance plan offers for their 2011 taxes, new clients need to sign their plan documents by the end of December.

Nyhart provides advisors a variety of documents to aid you in offering cash balance plans. These documents include (click to download):

• A (sample) cash balance plan study and illustration, so you may show clients an example of the savings generated by a cash balance plan,
• Our plan proposal request document that you fill out so that we can conduct a plan study for you and your client,
• Our client company plan study census (Excel) spreadsheet that provides details about your client’s business that you must complete in order to get a free analysis for your client.

Get a Nyhart Plan Study Created For Your Client

Do you have a client who you would like for Nyhart to run a sample plan design and project numbers to see how they might benefit? Download our Cash Balance Plan Design Census Spreadsheet, have your client/prospect provide the information in the questionnaire, and we’ll provide you with the related collateral in a few days.

Complete your plan census by 12/20 to get your study back before the end of the year.

Other Questions About Cash Balance Plans?

We work with advisors throughout the United States to offer cash balance plans and we would like to work with you too. We are available to answer any questions you may have.

Please give us a call at (317) 845-3500 or email Charles Munsell, FSA (charles.munsell@nyhart.com) or Leah DiMartino (leah.dimartino@nyhart.com) and we will respond as soon as possible.