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Chapter 21_RF - chapter then covers tax implications and...

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Chapter 21 C ROSS -T ESTED / AGE -W EIGHTED P LAN LEARNING OBJECTIVES: A. Have a basic understanding of cross-tested age-weighted plans REVIEW: This chapter discusses age-weighted defined contribution plans, specifically focusing on the cross-tested variety. The section on when such a plan is indicated highlights its use for older business owners and key employees. Following this section, the chapter touches on advantages and disadvantages. The section on cross-tested plan design highlights disadvantages to using this type of plan. It then follows up by discussing fixed-formula age-weighted plans – both profit sharing and target benefit plans. The
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Unformatted text preview: chapter then covers tax implications and identifies a few alternatives. Readers are again referred to chapter 10 for information on how to install the plan, and a reference for more information is given. The chapter ends with a short question and answer section. FEATURED TOPICS: Cross-Tested Age-Weighted Plans CFP® CERTIFICATION EXAMINATION TOPIC: Topic 61: Types of retirement plans B. Types and basic provisions of qualified plans 1. Defined contribution c. Profit sharing 3) Age-based plan KEY WORDS: cross-tested plan, age-weighted plan, target benefit plan...
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