“Give Your Retirement Plan A HUGE Boost” Price & Farrington, PLLC (425) 451-3583 www.pricefarrington.com.

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Presentation transcript:

“Give Your Retirement Plan A HUGE Boost” Price & Farrington, PLLC (425)

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 provides income for Life!   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 provides income for Life! ©2006 Price & Farrington, PLLC

What is 412(i)?  Q: How long has 412(i) been around? A: Since A: Since  Q: What happened to 412(i) between 1987 and 2000? A: Code Section 415(e). A: Code Section 415(e).  Q: Why is 412(i) now a powerful planning tool? A: Repeal of 415 (e). New Minimum Gateway Rules. A: Repeal of 415 (e). New Minimum Gateway Rules. ©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.   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

Why 412(i) Now?  Change in the tax law is favorable.  New Minimum Gateway Rules are favorable.  New law under EGTRRA is favorable.  Why is 412(i) important to you as a tax planning tool now? Asset Protection! Asset Protection! Income Tax Deduction. Income Tax Deduction. Estate Planning. Estate Planning. Disability Planning. Disability Planning. AMT Planning. AMT Planning.  Change in the tax law is favorable.  New Minimum Gateway Rules are favorable.  New law under EGTRRA is favorable.  Why is 412(i) important to you as a tax planning tool 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

Why 412(i) Now?  Provides income for retirement.  Provides income for disability.  Provides death benefits.  Provides greater tax deduction than the traditional defined benefit plan. ©2006 Price & Farrington, PLLC

Plan Amendments 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.   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

Why Price & Farrington, PLLC? Our website provides educational materials, PowerPoint presentations, flyers, comprehensive Glossary and “FAQ” sections, and the complete 7- year archive of our “FastFaxts” newsletters. Comprehensive information is always available at Our website provides educational materials, PowerPoint presentations, flyers, comprehensive Glossary and “FAQ” sections, and the complete 7- year archive of our “FastFaxts” newsletters. Comprehensive information is always available at ©2006 Price & Farrington, PLLC

Price & Farrington, PLLC (425) ©2006 Price & Farrington, PLLC