Retirement Plans

 

 

Financial Designs, Inc.'s retirement plan professionals are able to assist independent contractors, self-employed physicians, and small medical groups design, implement, and manage a variety of available retirement plans, including:
  • Defined Contribution plans such as:
    • 401(k) & Profit Sharing Plans
    • Individual 401(k) Plans
    • Simplified Employee Pension (SEP IRAs)
    • Other Non-qualified Plans
  • Defined Benefit Plans (including 412(i) plans and traditional pension plans)



Comparing Retirement Plan options

Choosing the right plan often involves making decisions about which plan features suit your circumstances.   Please click here to receive personalized information about each of the following considerations that are important to choosing the best retirement plan for your situation.

  • Defined Benefit plans vs. Defined Contribution plans
  • Features of various defined contribution plans
  • Features of defined benefit plans


Rules of thumb for retirement plans

 

  • The maximum deductible contribution between all defined contribution plans is based on a percentage of net income, up to a maximum of $49,000 annually.
  • The maximum deductible contribution for defined benefit plans is a function of age, years to retirement, and desired retirement income.  Annual tax-deductible contributions limits are based upon a providing a maximum retirement benefit of $195,000 per year.
  • Contributions for a given tax year can be made up to the tax return filing deadline including extensions, but some plans must be established by to December 31st of the year for which they are active.
  • Special integration rules apply when more than one type of retirement plan is used.

We offer great flexibility in selecting the most appropriate investment vehicles to fund the plan. Common funding instruments include: securities, mutual funds, REITs, annuities, certificates of deposit, and life insurance.  Click here to learn more about our investment services.

While we believe in performing in-depth retirement planning analysis, our Quick Retirement Plan Estimator can provide you with a snapshot of how close you are to your meeting your retirement goals.

To have a Financial Designs, Inc. professional contact you regarding any of our services for medical professionals, click here.