Pension & Profit Sharing Plans

Qualified retirement plans can provide significant tax advantages for closely held businesses and self-employed individuals. We can assist you in evaluating the type of pension or retirement plan that will best serve the retirement needs of you and your employees.  We can draft any of the following retirement plans that may suit your needs:

• Defined contribution plans such as profit sharing or money purchase pension plans
• Defined benefit plans, such as pension plans
• Self employed plans, or so called Keogh plans
• SEPs

To avoid plan disqualification and minimize interest and penalties for failure to keep retirement plans in compliance with applicable retirement plan laws, we have been involved with submission of applications under the Voluntary Compliance Program (VCP). For our legal guide highlighting this procedure please go to the hypertext legal guide entitled Failing To Update Retirement Plans: Avoid Plan Disqualification & Penalties By Using the VCP Program.

Our services include determining whether a Roth conversion makes tax sense.

In addition, we regularly determine the choice of beneficiaries of retirement plans from an estate and income tax planning perspective and the determination of the advantages to layering of contingent beneficiaries to allow for post-mortem planning for the beneficiaries.