MGKS has been working with defined benefit plans of all sizes for over 30 years. The actuarial team provides comprehensive and well thought out solutions which are communicated in a way that makes sense to the average plan sponsor. Our industry specific credentials speak to our experience and prove we have the qualifications necessary to administer these plans. Having an actuary in-house is pivotal to any TPA firm managing defined benefit plans given they are required to certify certain attachments to the annual tax form 5500. Each year our team works with our defined benefit plan sponsors to assure the current level of benefit accruals are satisfactory and fit within their budget.
Defined benefit plans can become a burden as they sometimes require certain minimums are funded each year to avoid penalty taxes. We review plan design options annually for the majority of our clients to get ahead of any surprises that may lurk around the corner. If you currently have a defined benefit plan, don’t get stuck with the set and forget approach, and give us a call so we can review your plan and see if there is anything we can change to help the plan accommodate your desired level of funding. On the other hand, if you are looking to start a new defined benefit plan, schedule a consultation today.
High Funding Potential
Large Tax Deductions
Fast Accumulation of Wealth
Pre-tax Life Insurance Funding
Many Investment Options
Customized Allocations
Understanding the Principles
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