Retirement Plans

Supervised Financial Services  retirement plan professionals are able to assist independent contractors, self-employed physicians, and small medical groups design, implement, and manage a variety of available retirement plans, including:

  • IRA - Individual Retirement Account
    • Traditional IRA
    • Roth IRA
  • Defined Contribution plans such as:
    • 401(k) & Profit Sharing Plans
    • Solo 401(k) Plans
    • Simplified Employee Pension (SEP IRAs)
    • Other Non-qualified Plans
  • Defined Benefit Plans (including 412(i) plans and traditional pension plans)

Comparing Retirement Plan options

Choosing the right plan often involves making decisions about which plan features suit your circumstances.  Each of the linked tables below outline some key differences between several types of plans.  

Rules of thumb for retirement plans

  • The maximum deductible contribution between all defined contribution plans is based on a percentage of net income, up to a maximum of $42,000 annually, as of 2004.
  • The maximum deductible contribution for defined benefit plans is a function of age, years to retirement, and desired retirement income.  Annual tax-deductible contributions limits are based upon a providing a maximum retirement benefit of $170,000 per year.
  • Contributions for a given tax year can be made up to the tax return filing deadline including extensions, but some plans must be established by to December 31st of the year for which they are active.
  • Special integration rules apply when more than one type of retirement plan is used.