Custom Plans

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Custom 401(k) Plans

A customized 401(k) plan design that provides meaningful retirement benefits to the business owner and their key employees is essential to the ongoing success of a small business 401(k) plan. Life Solutions can provide a plan design that favors the key employees of the business by utilizing several different plan design options.

For example:

Traditional allocations
Plan allocations integrated at the social security wage base
Tiered and multi-tiered new-comparability (cross-tested) plan formulas
Exclusive and proprietary allocation methods that we cannot disclose on the Internet without giving up our Intellectual Property and distinct competitive advantages

Life Solutions designs and supports all types of qualified plans. The key to making a 401(k) plan the ideal choice for a small business is designing a plan that favors the owners and key employees of the sponsoring employer. Just one example of a custom plan that can be designed is shown below. If you already have a plan, we can re-design it for you, too!

	Age	Salary	Traditional 401(k) with Profit Sharing Contribution	% of Total	Custom 401(k) with Profit Sharing Contribution	% of Total
Owner	60	$49,000	$33,374	55	$54,500	90
Employee	54	$33,000	$7,660	13	$1,650	3
Employee	28	$31,000	$7,196	12	$1,550	3
Employee	27	$29,000	$6,731	11	$1,450	2
Employee	26	$23,000	$5,339	9	$1,150	2
		$165,000	$60,300		$60,300
Owner’s Share			55%		90%

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