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A cash balance plan is a qualified employer-sponsored retirement plan that has become increasingly common in recent years as an alternative to (or replacement of) the traditional defined benefit pension plan. Though it is technically a form of defined benefit plan, the cash balance plan is often referred to as a “hybrid” of a traditional defined benefit pension plan and a defined contribution plan. This is because cash balance plans combine certain features of both defined benefit and defined contribution plans. Like traditional defined benefit plans, cash balance plans pay a specified benefit amount at retirement. However, like defined contribution plans, participants have individual (albeit hypothetical) accounts, allowing for easy tracking of accrued benefits.
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Posted by Michael Chapman at 12:00 PM UTC
- Next significant move will be up
- High will come in May
- Followed by a sharp sell off
In my last post, 10/19/2009, I was looking for an intermediate market top, a sell off and then a rally into year-end. The market obliged and dropped from 1,100 on the S&P 500 that very day to a 1,030 low on Nov. 2. This was followed by a rally ending with a 1,150 close in January. A second sell off took the S&P down 9 percent to its February low of 1,044. Four trading days ago, the market closed at 1,102 giving us four plus months with virtually zero gain…
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Posted by Michael Chapman at 12:00 PM UTC
A Section 412(i) plan is a type of defined benefit pension plan. Like all defined benefit plans, a 412(i) plan pays benefits to participants based on a formula set forth in the plan; a participant’s compensation, age, and length of service may all be factored in. And like all defined benefit plans, a 412(i) plan is generally funded solely by the sponsoring employer.
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Posted by Michael Chapman at 12:00 PM UTC
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