We have 401k / profit sharing plan with Employee Fiduciary and would like to increase tax deferred space. We ( two partners 39 and 43 with 5-6 eligible employees ) would like to keep Employee Fiduciary Plan and have a separate Cash Balance Plan administered by TPA and Vanguard( custodian )pooled account coupled with our New Comparability 401K plan. I have a few questions:
What is the cost to set up and administer cash balance plan? Any names for TPA/actuaries?
What is minimal commitment period and how much it cost to terminate plan (early due to business or health circumstances ) , valuation cost ? Is it possible to terminate plan in a 3-5 years , transfer all assets into 401k and restart plan year later ? Thank you.
What is the cost to set up and administer cash balance plan? Any names for TPA/actuaries?
What is minimal commitment period and how much it cost to terminate plan (early due to business or health circumstances ) , valuation cost ? Is it possible to terminate plan in a 3-5 years , transfer all assets into 401k and restart plan year later ? Thank you.
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