A case study: implementing a cash balance plan in an optometry practice
February 26, 2024
As we discussed during this episode of 20/20 Money, Charlie Steingas with Cash Balance Actuaries ran through a cash balance case study. In this example, he shows what it looks like to implement a cash balance plan for a single-owner optometry practice. This practice’s hypothetical owner is in their mid-50’s and in his demonstration, Charlie shows:
- How the mechanics of cash balance plans work
- How practice owners can calculate the “tax arbitrage”
- The flexibility that exists in when you fund the plan
- How a strategy like this could be used in the years leading up to a sale or transition
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