If you’re a small business owner or partner in a professional group, you’ve most likely invested years — and the necessary capital — to build a successful business or practice. Perhaps you have not set aside the funds you need to enjoy the kind of retirement you desire — and deserve.
Now that you’re nearing retirement age and are able to save more for retirement, you need a tax-preferred vehicle that builds wealth quickly and maintains stable yearly contribution requirements.
Low Volatility Pension Plans (LVP™) can be used — in combination with 401(k)/profit sharing plans — to substantially increase tax-preferred retirement savings while maintaining a stable contribution requirement from year to year. (NOTE: the above link is to our on-demand LVP webinar, which you may access at your convenience. You may also download a free copy of the webinar presentation.)
LVP plans are based on the cash balance plan concept, which can substantially increase tax-preferred savings for small businesses when combined with 401(k)/profit sharing plans. However, LVP plans have additional advantages for partnerships and closely held businesses beyond those of traditional defined benefit (DB) and cash balance plans.
Please feel free to leave a comment here if you have any questions about LVPs.
My name is Lee James FSA, EA, MAAA, FCA, Director, Retirement. The opinions expressed here are my own, and do not necessarily represent Buck’s positions, strategies, or ideas.