The 2023 Defined Benefit lump sum distribution increased by $266,000, presenting Plan Sponsors with the opportunity to increase their annual defined benefit dollar contribution. Building your business with Cash Balance plans is a maintainable and consistent way to increase assets under management.
Historically the defined lump sum annual limit has increased every year.
The Increased Opportunity with Cash Balance Plans:
- Accumulate new assets under management with much larger contribution limits compared to other qualified retirement plans.
- Cash Balance accounts have the flexibility of being pooled together, so you can effortlessly manage your book of business with a single account.
- Cash Balance plans are trustee directed, so you can focus on investments and purposefully managing your clients’ assets.