November 30, 2009 
This entry was posted on Monday, November 30th, 2009 at 11:12 pm and is filed under Small Business, Tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
When looking to hire employees sometimes it is the best benefits and pay that get the best employees. If you are a small business and cannot compete with the big corporations with benefits, you still have a chance to offer something worth while. Some small business advice could help you deal with getting the right employees.
The 412 plan, named after the section of the Internal Revenue Code that authorizes it, is a defined benefit plan. That means it will provide a fixed amount once you retire.
One of the major appeals of the plan is that it is funded exclusively by individual annuities or a combination of annuities and life-insurance contracts.
Because of the insurance component, a 412 can provide fixed, known monthly retirement benefits, life-insurance protection and, relative to other plans, large tax-deductible contributions (in excess of $300,000) that can build a substantial retirement fund in just a few years.