Case Study 2 - Creating Pension Plans
Creating Pension Plans Under Professional Corporations

An FMG client did not have a pension plan under their professional corporation, although they had managed to accumulate approximately $1 million in retirement savings over the last 20 years.  FMG discussed the situation with their tax consultants and a pension plan was established under the client’s professional corporation that allows the client to place over $150,000 pre-tax annually in a pension plan for retirement.  Without the pension plan the after tax amount available for retirement savings would have been reduced to $90,000.  In addition, the IRS allows the client to save increasing amounts under her pension plan each year as she gets older, thus continuing to add to the client’s retirement fund.

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