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A Cash Balance Plan or a Definite Benefit plan is a type of retirement plan that allows you to significantly reduce your taxes while you fund your own retirement.
This plan provides an annuity benefit that is typically a percentage of compensation.
As participants in the Plan work longer and their pay increases, their Defined Benefit grows.
Upon termination, the final benefit is calculated and the participant is offered a lifetime annuity payable at the Plan’s retirement age or a single sum payout that is actuarially equivalent to the monthly payment stream.
In almost all cases, the single sum payout is chosen.
The right financial advisor can assist you in setting and tracking your retirement objectives. Give us a call to know how you can maximize your financial future.
We offer the support and guidance of experienced advisors who can help you navigate the process of creating a plan for your financial success
Frisco Business Solutions Group Inc DBA FBS Securities is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
