Saturday November 21, 2009

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The Perks of the Solo Defined-Benefit Plan
One-person businesses can create their own pension plans. Is this option right for you?
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pb Posted: 9:56 PM On September 17, 2009

Any help on the following issue appreciated: I just incorporated July 2008, started my DB plan with Schwab but neglected to halt my SEP IRA contributions putting in 46,000 for 2008 and already 24,000 for 2009 before advised/realizing this is a No-No. Schwab gave me a formula that about 5.7% (or about 10,000) can be contributed to my SEP but I'm wondering if any can be contributed on non deductible basis or must I simply withdraw the entire excess and deal with the 1099R etc?

Thanks for any replies.
Manny Posted: 5:58 AM On August 24, 2009
'Just curious...what happens if the person isn't self employed any more but continues to make payments for several years after to a life insurance plan
that was funding a part of the solo db? Just curious what the consequences are and to whom. Txs ' - I would like to know the answer to this question also
Brian Posted: 5:59 PM On July 7, 2009
My wife and I want a 2 person DB. The rep wants to put 146,000 per year for the two of us for two years (by then an employee (not yet hired) would be eligable).

He wants to put it into a life insurance product. We already have a whole life product that we fund very well.

What are the investment options for the DB?
Mark Posted: 1:16 PM On May 20, 2009
I worked for a company for many years that had a Defined Ben plan and left the company. I got my money at that time, whatever the plan for me was worth. The questions is, if I go back to the company, can I get back in the plan where I left off.
Jim Posted: 10:01 PM On March 30, 2009
Are you sure about this level '(In contrast, the maximum 2009 contribution to a solo 401(k) plan would be 'only' $47,000, if you earn $100,000 and are over age 50.)'

Isn't the maximum $49,000 plus a $5,500 catch for ages 50 and over?
Aneela Posted: 6:58 PM On January 1, 2009
Can you set up a sep and a defined benefit plan for the same year -- in order to deduct even more?
Harry Posted: 5:27 PM On October 21, 2008
Can you invest in realestate with these type of defined benefit plans
Claire Posted: 1:18 AM On September 16, 2008
Just curious...what happens if the person isn't self employed any more but continues to make payments for several years after to a life insurance plan that was funding a part of the solo db? Just curious what the consequences are and to whom. Txs
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