We are living in turbulent times presenting new and unique challenges. Qualified retirement plans are no exception. In this presentation, we will discuss ways business owners can withstand the headwinds generated by the current environment while maintaining the ideal qualified retirement plan design for their business and to attract and retain staff.
Learning Objectives
- Upon completion of this course, you'll be able to:
- Evaluate the strategic benefits of qualified retirement plans.
- Compare defined contribution (e.g., 401(k), profit-sharing) and defined benefit plans.
- Analyze recent legal updates (SECURE Acts) and emerging trends.
Major Topics
- Specifically, topics covered will include:
- Benefits of Qualified Retirement Plans o Maximize tax deductions for owners o Asset protection o Recruit and retain staff
- 2025 IRS Plan Limits
- Types of Qualified Retirement Plans
- Defined Contribution Plans ? Laying the Foundation o 401(k) Plans ? Traditional 401(k) ? Immediate tax deduction / tax-deferred growth ? Roth 401(k) ? Tax-free growth and withdrawal ? ADP testing and top-heavy testing ? Safe Harbor designed-based alternative to ADP testing o Profit Sharing Plans ? Flexible New Comparability (Cross-Tested) Contributions
- Defined Benefit Plans ? Maximizing Tax Deferral for Business Owners o Traditional Defined Benefit Plans
- owner/spouse only o Cash Balance Plans ? businesses with staff
- Legal Update ? SECURE Act, SECURE 2.0, etc.
- Future Trends ? How they will impact business owners