Defined Benefit Plan 412i (Oklahoma Customers Only)
Defined Benefit Plan 412(i)
A 412(i) defined benefit plan enables small business owners to fund a retirement program with tax-deductible contributions without the funding limitations of a traditional qualified plan.
Ideal candidates for a 412(i) Plan are:
- Owners of stable and successful businesses with significant cash flow
- Six or fewer employees
- Age 50 or older
The maximum contributions that participants can make will vary depending on compensation, years to retirement and difference in the combination of annuities and life insurance used to fund the plan.
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Securities and Insurance products offered through LPL Financial and its affiliates, Member FINRA / SIPC. International Bank of Commerce is not a registered broker dealer and is not affiliated with LPL Financial.
NOT A DEPOSIT | NOT FDIC-INSURED | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY | NOT GUARANTEED BY BANK | MAY LOSE VALUE
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