Did you know that with a Traditional Defined Benefits Plan (DBP) you can accrue substantial benefits, even within a short period of time or if you retire early, and that your benefits are not dependent upon asset returns?
These are just a few of the many positive features of a DBP. Before you decide if a plan is right for you, your company, your employees, and your long-term business goals, we think it’s important that you have all the facts. That’s why our July Resource of the Month will give you a comprehensive overview of traditional Defined Benefit Plans, how they work, and their advantages.
As our Resource explains, the most basic explanation of a Defined Benefit Plan is that an “employer contributes an actuarially determined amount sufficient to pay each participant a fixed or defined benefit at his or her retirement.”
In truth, there’s much more to Defined Benefit Plans. Our July Resource of the Month will walk you through how they work, how benefits are defined, additional considerations, maximum benefits, and the advantages of DBP for both you and your employees.
A Defined Benefit Plan may be a great fit for your business and may also help you meet your financial goals. Download our resource today and when you’re ready to talk more about a plan that’s right for you, contact the Robin S. Weingast & Associates, Inc. team. We’re happy to put our combined experience and expertise to work….for you.