“Give Your Retirement Plan A HUGE Boost” Price & Farrington, PLLC (425) 451-3583 .
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Transcript of “Give Your Retirement Plan A HUGE Boost” Price & Farrington, PLLC (425) 451-3583 .
““Give Your Retirement Plan A Give Your Retirement Plan A HUGEHUGE Boost” Boost”
Price & Farrington, PLLCPrice & Farrington, PLLC(425) 451-3583(425) 451-3583
www.pricefarrington.comwww.pricefarrington.com
What is 412(i)? A guaranteed defined benefit pension plan. Funded only with Life Insurance contracts and
Annuity contracts.
What is a defined benefit pension plan? A plan funded with tax-deductible dollars that
providesincome for Life!
©2006 Price & Farrington, PLLC©2006 Price & Farrington, PLLC
What is 412(i)?What is 412(i)? Q: How long has 412(i) been around?Q: How long has 412(i) been around? A: Since 1974.A: Since 1974. Q: What happened to 412(i) between Q: What happened to 412(i) between
1987 and 2000?1987 and 2000? A: Code Section 415(e).A: Code Section 415(e). Q: Why is 412(i) now a powerful Q: Why is 412(i) now a powerful
planning tool? planning tool? A: Repeal of 415 (e). New Minimum Gateway A: Repeal of 415 (e). New Minimum Gateway
Rules.Rules.
©2006 Price & Farrington, PLLC©2006 Price & Farrington, PLLC
Why 412(i) Plans? 80% of Americans work in small
businesses. 80% of these small businesses have
NO retirement plan. 80 Million people have NO Pension Plan.
©2006 Price & Farrington, PLLC©2006 Price & Farrington, PLLC
Why 412(i) Now?Why 412(i) Now?
Change in the tax law is favorable.Change in the tax law is favorable. New Minimum Gateway Rules are favorable.New Minimum Gateway Rules are favorable. New law under EGTRRA is favorable.New law under EGTRRA is favorable. Why is 412(i) important to you as a tax planning tool Why is 412(i) important to you as a tax planning tool
now?now? Asset Protection! Asset Protection! Income Tax Deduction. Income Tax Deduction. Estate Planning.Estate Planning. Disability Planning.Disability Planning. AMT Planning.AMT Planning.
©2006 Price & Farrington, PLLC©2006 Price & Farrington, PLLC
Why 412(i) Now?Why 412(i) Now?
Provides income for retirement.Provides income for retirement. Provides income for disability.Provides income for disability. Provides death benefits.Provides death benefits. Provides greater tax deduction than the Provides greater tax deduction than the
traditional defined benefit plan. traditional defined benefit plan.
©2006 Price & Farrington, PLLC©2006 Price & Farrington, PLLC
Plan Amendments Plan Amendments and Termination Under 412(i)and Termination Under 412(i)
412(i) plans are simple to design and set up. No plan actuary is required. You may amend the plan. You may terminate the plan.
©2006 Price & Farrington, PLLC©2006 Price & Farrington, PLLC
Why Price & Farrington, PLLC?
Our website provides educational materials, PowerPoint Our website provides educational materials, PowerPoint presentations, flyers, comprehensive Glossary and “FAQ” presentations, flyers, comprehensive Glossary and “FAQ”
sections, and the complete 7-year archive of our “FastFaxts” sections, and the complete 7-year archive of our “FastFaxts” newsletters. Comprehensive information is always available newsletters. Comprehensive information is always available
at www.pricefarrington.com.at www.pricefarrington.com.
©2006 Price & Farrington, PLLC©2006 Price & Farrington, PLLC
Price & Farrington, PLLC(425) 453-5440
www.pricefarrington.com
©2006 Price & Farrington, PLLC©2006 Price & Farrington, PLLC