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Solo Plans

A solo business owner with no employees can set up a pension plan to achieve both maximum benefits and maximum flexibility. Below are illustrative maximum benefit numbers that are broadly applicable. We can generate an illustration for your specific situation.
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Age
Retirement
Age
Compensation1
Max 401k Plan ONLY Contribution
Max Defined Benefit Plan Contribution
Max Combined Plan Contribution
35
55
36
55
37
55
38
55
39
55
40
55
41
55
42
55
43
55
44
55
45
55
46
56
47
57
48
58
49
59
50
60
51
61
52
62
53
63
54
64
55
65
56
65
57
65
58
65
59
65
60
65
61
66
62
67
63
68
64
69
65
70
66
71
67
72
68
73
69
74
70
75
71
76
72
77
73
78
74
79
75
80
76
81
77
82
78
83
79
84
80
85
81
86
82
87
83
88
84
89
85
90

The table below is based on:

  • current age (rounded as of the beginning of the year)
  • A husband and wife together can double up on these numbers.
  • prior years of service as indicated
  • retirement age as shown
  • 1 minimum compensation needed (a high 3-consecutive year average must be used)

The contribution amounts are additive for a 2-person plan.

A defined benefit plan:
Employers can generally contribute
(and, therefore, deduct) more than for
other types of plans.
Internal Revenue Service
Owners of small companies often find defined benefit pension plans to be the best vehicle for accumulating funds for retirement.
Defined Benefit Answer Book

Need a plan illustration?

Discuss Pension Plan options with our actuaries.
Request Proposal

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Suite 307
Arlington, TX 76006
817.467.7435
info@automatedpensions.com

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