http://www.physiciansnews.com/2010/06/04/increase-retirement-contributions-for-key-employees-with-a-carve-out-plan/ Wed, 08 Feb 2012 12:53:38 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.physiciansnews.com/2010/06/04/increase-retirement-contributions-for-key-employees-with-a-carve-out-plan/comment-page-1/#comment-2030 Barry Kurtz Mon, 07 Jun 2010 16:39:15 +0000 http://www.physiciansnews.com/?p=3291#comment-2030 Concern magnifies in any plan where change of personnel can impact a plan at or near year end. Carveouts, to our way our way of thinking can lead to a disaster as suggested by Frank Hoffman. We prefer the cash balance approach, aggregating CB with a PSP. Changes in employee status can be easily handled with PSP % differences on an annual basis. Additionally, CB plans are easy to understand and explain as well as allowing the opportunity to create flexibility through wage change. Concern magnifies in any plan where change of personnel can impact a plan at or near year end. Carveouts, to our way our way of thinking can lead to a disaster as suggested by Frank Hoffman.
We prefer the cash balance approach, aggregating CB with a PSP. Changes in employee status can be easily handled with PSP % differences on an annual basis. Additionally, CB plans are easy to understand and explain as well as allowing the opportunity to create flexibility through wage change.

]]> http://www.physiciansnews.com/2010/06/04/increase-retirement-contributions-for-key-employees-with-a-carve-out-plan/ Wed, 08 Feb 2012 12:53:38 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.physiciansnews.com/2010/06/04/increase-retirement-contributions-for-key-employees-with-a-carve-out-plan/ Wed, 08 Feb 2012 12:53:38 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.physiciansnews.com/2010/06/04/increase-retirement-contributions-for-key-employees-with-a-carve-out-plan/comment-page-1/#comment-2030 Barry Kurtz Mon, 07 Jun 2010 16:39:15 +0000 http://www.physiciansnews.com/?p=3291#comment-2030 Concern magnifies in any plan where change of personnel can impact a plan at or near year end. Carveouts, to our way our way of thinking can lead to a disaster as suggested by Frank Hoffman. We prefer the cash balance approach, aggregating CB with a PSP. Changes in employee status can be easily handled with PSP % differences on an annual basis. Additionally, CB plans are easy to understand and explain as well as allowing the opportunity to create flexibility through wage change. Concern magnifies in any plan where change of personnel can impact a plan at or near year end. Carveouts, to our way our way of thinking can lead to a disaster as suggested by Frank Hoffman.
We prefer the cash balance approach, aggregating CB with a PSP. Changes in employee status can be easily handled with PSP % differences on an annual basis. Additionally, CB plans are easy to understand and explain as well as allowing the opportunity to create flexibility through wage change.

]]> http://www.physiciansnews.com/2010/06/04/increase-retirement-contributions-for-key-employees-with-a-carve-out-plan/comment-page-1/#comment-2030 Barry Kurtz Mon, 07 Jun 2010 16:39:15 +0000 http://www.physiciansnews.com/?p=3291#comment-2030 Concern magnifies in any plan where change of personnel can impact a plan at or near year end. Carveouts, to our way our way of thinking can lead to a disaster as suggested by Frank Hoffman. We prefer the cash balance approach, aggregating CB with a PSP. Changes in employee status can be easily handled with PSP % differences on an annual basis. Additionally, CB plans are easy to understand and explain as well as allowing the opportunity to create flexibility through wage change. Concern magnifies in any plan where change of personnel can impact a plan at or near year end. Carveouts, to our way our way of thinking can lead to a disaster as suggested by Frank Hoffman.
We prefer the cash balance approach, aggregating CB with a PSP. Changes in employee status can be easily handled with PSP % differences on an annual basis. Additionally, CB plans are easy to understand and explain as well as allowing the opportunity to create flexibility through wage change.

]]> http://www.physiciansnews.com/2010/06/04/increase-retirement-contributions-for-key-employees-with-a-carve-out-plan/ Wed, 08 Feb 2012 12:53:38 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.physiciansnews.com/2010/06/04/increase-retirement-contributions-for-key-employees-with-a-carve-out-plan/comment-page-1/#comment-2030 Barry Kurtz Mon, 07 Jun 2010 16:39:15 +0000 http://www.physiciansnews.com/?p=3291#comment-2030 Concern magnifies in any plan where change of personnel can impact a plan at or near year end. Carveouts, to our way our way of thinking can lead to a disaster as suggested by Frank Hoffman. We prefer the cash balance approach, aggregating CB with a PSP. Changes in employee status can be easily handled with PSP % differences on an annual basis. Additionally, CB plans are easy to understand and explain as well as allowing the opportunity to create flexibility through wage change. Concern magnifies in any plan where change of personnel can impact a plan at or near year end. Carveouts, to our way our way of thinking can lead to a disaster as suggested by Frank Hoffman.
We prefer the cash balance approach, aggregating CB with a PSP. Changes in employee status can be easily handled with PSP % differences on an annual basis. Additionally, CB plans are easy to understand and explain as well as allowing the opportunity to create flexibility through wage change.

]]> http://www.physiciansnews.com/2010/06/04/increase-retirement-contributions-for-key-employees-with-a-carve-out-plan/comment-page-1/#comment-2015 Frank Hoffman Fri, 04 Jun 2010 18:33:11 +0000 http://www.physiciansnews.com/?p=3291#comment-2015 I like the idea, but I think it's important to remind readers that a defined benefit plan is still subject to 401(a)(26), which requires that the plan benefit the lesser of 50 employees or 40% of all employees. So, in your example, depending on the number of HCEs compaed to the total , a ohysician's practice nay be ok as is, or have to adjust eligibility to make sure the plan satisfies the minimum participation rules. I like the idea, but I think it’s important to remind readers that a defined benefit plan is still subject to 401(a)(26), which requires that the plan benefit the lesser of 50 employees or 40% of all employees. So, in your example, depending on the number of HCEs compaed to the total , a ohysician’s practice nay be ok as is, or have to adjust eligibility to make sure the plan satisfies the minimum participation rules.

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