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Retirement plan design

Small Business Retirement Plan Solution

Consult with the experts.

Small business owner survey
Overview

Each small business has its own unique financial characteristics

Your small business (or small business client) cannot afford to waste time or money on a retirement plan that does not meet your needs. The ideal retirement program:

  • Maximizes the tax efficiency of contribution dollars
  • Tailors to the unique profile of both owners and staff
  • Directs more benefits to owners than may be possible with a SEP-IRA or 401(k)
  • Evolves as your business and personal situation changes
The solution

Customized approach provides path to retirement

Just as an architect designs a building to fit the needs of a client, we design a retirement plan program to fit yours. Milliman can provide tailor-made pension and cash balance plans that are customized to your ownership structure, finances, and time horizon to retirement.

A comprehensive package, the Small Business Retirement Plan Solution includes design, actuarial services, plan document, government filings, and administration. Sophisticated tools and streamlined processes enable us to provide a complete end-to-end solution at competitive prices.

BENEFITS

Benefits for small business owners

Maximize retirement benefits

Take advantage of higher retirement benefits and targeted designs than are possible with a defined benefit/cash balance approach.

Generate tax savings

Leverage age and compensation profiles of owners and staff for sizeable deductible contributions.

Comprehensive support

Get guidance through every step of the life of the plan, from initial design to ongoing services to distribution of plan benefits.

Trust the experts

Deal directly with actuaries, not salespeople.

Protect your assets

Design qualified pension plans that are beyond the reach of creditors. If you choose an annuity payout, benefits are guaranteed for your lifetime.

Invest freely

Choose any investment product you wish.

BENEFITS

Benefits for professional advisors

Work with a partner

Strategize with Milliman to help your clients generate significant retirement savings.

Diversify approaches

Meet individual business needs without cookie-cutter design plans.

Streamline processes

Plan efficiently in real time with your clients.

Maintain independence

Milliman has no stake in the investments – we leave investing to the professionals.

INSIGHT

Related insight

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FAQ

Cash balance plans: Frequently Asked Questions

Cash balance plans blend the features of a traditional defined benefit retirement structure with the look and feel of a 401(k)/profit-sharing plan.

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Article

Small business owners have welcome opportunity to reevaluate their retirement programs

Annual contribution limits for retirement plans rise significantly in 2022, giving small business owners greater tax deferrals with DB and 401(k) pension plans.

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Article

Nondiscrimination testing: Minimum allocation gateway

A defined contribution (DC) plan can test on a benefits basis if it meets a certain criteria.

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Is a cash balance plan right for my business?

Employers and owners continually look at different strategies to defer tax on income, provide benefits to key employees, and boost their retirement savings.

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Will your retirement savings be capped?

As part of the proposed federal fiscal year 2014 budget, President Obama included a cap on the amount of retirement savings an individual could accumulate in tax-deferred retirement plans.

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Would tax increases prompt small business owners to reevaluate their retirement programs?

If tax rates increase and small business owners look at different alternatives to manage their tax liabilities, will we see changes to their retirement programs?

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SERVICES

Services related to Small Business Retirement Plan Solution

PRODUCTS

Products related to Small Business Retirement Plan Solution

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Administer defined benefit and cash balance pension plans with one of the industry's leading retirement planning and communication tools.

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Milliman Frozen Plan Solutions

Bring your frozen corporate defined benefit plan from its current state to termination with Milliman’s consulting and modeling services.

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See how movements in capital markets affect your pension plan's financial status, with real-time updates on projected funded status, and FAS expense.

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Millimanbenefits.com

Empower your retirement plan to achieve your business objectives through our state-of-the-art outsourcing services combined with leading-edge financial wellness education.

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We’re here to help

Ask the tough questions. We’re ready for them.