The $100K+ Retirement Plan You Need to Know About

Anderson Business Advisors Podcast

In this episode of Anderson Business Advisors, Toby Mathis, Esq., speaks with Jeff Mason and Chris Hammond from Redwood Retirement on the intricacies of $100,000+ cash balance retirement plans, focusing on how innovative solutions can benefit business owners. They explore the key aspects of these plans, including what can be paid and deducted, the hurdles involved, and the flexibility they offer. The discussion covers the effectiveness of Redwood's solutions, highlighting when payments are due for the tax year and showcasing best-case examples of significant tax savings achieved through cash balance plans. Chris and Jeff also clarify the differences between Cash Balance Plans and Defined Benefit Plans, explain the limits and maximum contributions, and introduce a sample plan for effective modeling. With insights into flexibility, payroll funding, and real-world case study outcomes, this episode is a comprehensive guide to leveraging cash balance plans for optimal retirement planning and tax efficiency.

Highlights/Topics:

• Chris and Jeff intro, Redwood Retirement and their cash balance plans
• Liability - what you can pay and deduct, hurdles, flexibility
• Redwood’s solutions, proof of effectiveness
• When are payments due for the tax year?
• Best case examples of cash balance plans and their tax savings
• Definitions and differences - Cash Balance Plan vs. Defined Benefit Plan
• Limits and maximum contributions
• Modeling a ‘Toby Mathis plan’
• What all this means for business owners
• Flexibility, funding with payroll
• Favorite case study outcomes
• If you want to speak with Jeff and Chris - click the link below to see if their services can help you!

Resources:

Do you want to discuss if a Redwood Retirement Cash Balance Plan Design is right for your company?

👉 Visit: https://redwoodrs.com/tobypodcast

https://redwoodrs.com/tobypodcast

Email Jeff Mason

[e-mail]

Schedule Your FREE Consultation

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https://www.youtube.com/@TobyMathis

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https://www.tiktok.com/@tobymathisesq