Our pension attorneys first evaluate all aspects of your business and determine the philosophy and goals of the business, the owners and the employees. We then design a plan specifically to meet those objectives and provide your company and employees with the most cost-effective plan possible.
Our services include:
Designing, administering and terminating all types of tax qualified retirement plans including defined benefit pension plans, cash balance pension plans, profit sharing plans, new comparability plans and 401(k) plans.
Assisting legal counsel in client representation with proceedings with the Internal Revenue Service, the Department of Labor, and the Pension Benefit Guaranty Corporation.
A retirement plan can serve many purposes, from tax sheltering income to attracting and retaining employees. Whether you are a sole proprietor, partnership or a corporation, there are several types of qualified retirement plans to choose from and one should consult an expert to determine which one can best meet your needs.
At the Law Offices of Robert V. Dienstag, we are sensitive to the fact that one size does not fit all when it comes to the design of a retirement plan. Our team can offer you a variety of options for your plan design, whether you are starting up a new plan or updating your existing one. Plans are designed on an individual basis with the company’s goals in mind. We can provide a detailed analysis at little or no cost to you by illustrating how the retirement plan can benefit your employees as well as the company. The company will be able to take a tax deduction and reduce their tax liability by increasing contributions in a retirement plan.
Our use of Volume Submitter Documents enables our attorneys to customize a retirement plan tailored to you and your company’s objectives. A well designed retirement plan not only gives employees a way to build a financially secure future, it also is a valuable tool for the employer to attract and retain quality employees. Whether creating a new plan or redesigning your existing one, we will review and analyze your company’s needs and budget to develop a retirement plan that is a perfect fit.
Types of Retirement Pension Plans
401(k) - A defined contribution plan offered by a corporation to its employees, which allows employees to set aside tax-deferred income for retirement purposes, and in some cases employers will match their contribution dollar-for-dollar.
Profit Sharing Plan - A defined contribution plan offered by a corporation to its employees, which allows the employer to provide non-elective contributions to eligible employees. These e often paired with 401(k) Plans. A number of profit sharing formulas are available including pro-rata, integrated, age-weighted and new comparability. We would help determine which formula is best for your organization.
Defined Benefit Plan - A company retirement plan, such as a pension plan, in which a retired employee receives a specific amount based on salary history and years of service, and in which the employer bears the investment risk.
Cash Balance Pension Plan - A type of defined-benefit plan. As such, the plan funding limits, funding requirements and investment risk are based on defined-benefit requirements.