Calculator

How much can I contribute into a Defined Benefit Plan?

Using the retirement calculator below you can calculate the maximum annual retirement contribution limit based on your income. Enter your name, age and income and then click "Calculate."

The result will show a comparison of how much could be contributed into a Defined Benefit Plan, Individual 401k, SEP IRA or SIMPLE IRA based on your income and age. If you are taxed as a sole proprietorship use your NET income when using the calculator. If you are incorporated, then only use your W-2 wages when using the calculator. For example with an S corporation K-1 distributions (corporate profits) are not included in the calculation only W-2 wages.

Note: The calculations are based on a traditional defined benefit plan. The calculator is for illustrative purposes and is an estimate. A 401k and a profit sharing plan can potentially be added to a defined benefit plan. A fully insured defined benefit plan may allow a larger contribution than a traditional defined benefit plan. A cash balance plan may be a better option for corporations with employees. Contact us and we can send you a proposal with specific calculations based on the demographics of your business. Here are case studies providing real examples.

Name
Yearly Income
Age     Year 
Business Type
Sole proprietorship, partnership (or LLC taxed as a sole proprietorship)
S corporation, C corporation (or LLC taxed as a corporation)
  

Beacon Capital Management Advisors provides defined benefit plans to the self employed, entrepreneurs, independent contractors and small business owners and is registered in all 50 States. Contact us if you have questions and need advice or if you would like to receive a defined benefit plan proposal.