Case Study 2:
Medical Group

Custom solution yields healthy prospects for retirement planning.

Vehicles: Profit Sharing Plan and Cash Balance Plan

Challenge: The owners of a small medical practice sought to amend an existing profit sharing plan so that they could maximize their annual contributions without incurring a corresponding percentage increase in employee contributions.

Solution: JC Actuarial Benefit Consultants, Inc. worked closely with the practice’s accountant to revise the existing Profit Sharing plan in accordance with regulatory requirements. Additionally, we augmented this plan with a new custom-designed Cash Balance plan. By combining both plans into a single integrated package, JC Actuarial Benefit Consultants enabled the owners to contribute the maximum-allowable amount each year to the plan, without having to increase employee contribution percentages.

Results: The JC Actuarial Benefit Consultants solution saved the practice’s owners an additional $150,000 on taxes in one year.