Defined Benefit Pension Plan Actuary
Our consultants at E.H. Thomson & Company design defined benefit plans for companies that ensure a fixed, pre-established benefit for their employees at retirement. The employers can contribute more each year in comparison to the defined contribution plans and get more tax-deductible. They can also guarantee their employee’s satisfaction since substantial benefits accrued for them within a short period of time.
If you are interested, get in touch with our team. We will assign a defined benefit pension plan actuary who will design a customized program to best suit your company’s and employees’ needs.
How Does Defined Benefit Plan Work?
Under this plan, the employees get assured benefit of a certain amount when they retire. This amount is determined by factors such as your age, salary, and years of service with the company. If you wish to receive a fixed amount at retirement, you can contact our defined benefit pension plan actuary. Our expert will calculate the future benefits that are projected to be paid from the plan and determine the exact amount that must be contributed each year to reach that projected benefit payout. This plan allows even employees to contribute besides their employers.
Our defined benefit plan administrator can assess the fineries of the plan each year and provide all the necessary information to both the employer and employees to get maximum benefits.
It’s never too early to start planning and investing in the right plan for your retirement. If you make informed decisions, you can achieve your dream of living well in retirement. Our experienced consultants will help you plan and support at each step.
Contact our support team today to book a consultation.