How Does A Cash Balance Retirement Plan Work?

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   Steve Savant

   Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona

   Cash balance plans are qualified defined benefit plans under ERISA, the Employee Retirement Income Security Act of 1974. Employers appreciate the discriminatory ability to favor business owners. Cash balance plans are also used in tandem with 401(k) for enhanced contribution limits. The plans accumulate tax deferred and offer creditor protection.

   Answered on September 13, 2013

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