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Combination Plans

Combination Plans are most suitable for:

Combination Plans are most suitable for:

  • Executives and Individuals looking for tax deductions in excess of $69,000 per year
  • Professional Practices, manufacturers, and retailers looking to reward employees with additional contributions
  • Companies wanting a tax deferred vehicle

Bridge Benefits Group provides access to custom designed Workplace Retirement Plans that fit your company needs. Sometimes, $69,000 is just not enough of a tax-deduction. Our knowledge of the retirement plan market allows us to find the most appropriate benefits that fit your need. As investment co-fiduciaries on all our plans, you can be assured we are always striving to act in your best interest to help ensure you are compliant with Department of Labor guidelines.

About Combination Plans

In some cases, a company may be able to offer a combination plan to their employees that increases the annual amount an individual can save for retirement. Oftentimes this combination plan will be a 401k Profit Sharing Plan combined with a Cash Balance Plan. In order to qualify, certain criteria must be met that incorporates the types of employees at a company, employee salaries, and other factors. Combination plans are a way to obtain a potentially larger tax deduction and to further reward your employees.

At Bridge Benefits Group, much of what we do revolves around the idea that not all plans are created equal, and they certainly do not serve the same purposes. In terms of retirement planning, a traditional 401(k) plan may be a great solution for most employees of an organization. However, combination plans exist for a reason—especially when a 401(k) plan alone is not sufficient. To learn more about how a combination plan can help your organization, as well as how to find a suitable one, fill out the form below to speak to one of our advisors for a comprehensive plan review!

*This information was developed as a general guide to educate plan sponsors, but is not intended as authoritative guidance or tax or legal advice. Each plan has unique requirements, and you should consult your attorney or tax advisor for guidance on your specific situation. In no way does advisor assure that, by using the information provided, plan sponsor will be in compliance with ERISA regulations.

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