412(i) plan

by Richard C. Wilson & Family Offices Group Association Team

Family Office Definition: 412(i) plan

412(i) plan definition: A 412(i) plan is a tax-deferred retirement savings vehicle for small (family) business owners. This plan differs from other plans in that it is a defined benefit pension plan funded by an insurance company. The company makes tax-deductible insurance premium payments. The insurance company uses annuities, life insurance, or some combination to provide guaranteed retirement benefits.

Download our free Family Office Report to learn more about the family office industry.

Read more Family Office Definitions

Tags: What is 412(i) plan?, 412(i) plan definition, 412(i) plan family office, 412(i) plan term, define 412(i) plan, 412(i) plan wealth management, 412(i) plan multi-family office, 412(i) plan single family office

7 More Family Office Resources:

408(k) plan Family Office Definition: 408(k) plan 408(k) plan definition: A 408(k) plan is a simpler version of the 401(k) plan for self-employeed or small (family businesses). Both employee and employer can make tax-deductible contributions. Money in ...
529 College Savings Plan Family Office Definition: 529 College Savings Plan 529 College Savings Plan definition: A 529 college savings plan is a tax-advantaged savings vehicle for education expenses. Contributions to 529 plans for grandchildren (or other heirs) ...
Profit Sharing Plan Family Office Definition: Profit Sharing Plan Profit Sharing Plan definition: A profit sharing plan is a method for sharing business profits with employees by making discretionary contributions. Profit sharing plans are defined contribution retirement ...
Estate Plan Family Office Definition: Estate Plan Estate Plan definition: An estate plan outlines the orderly distribution of your personal assets following your death. The plan may include caring for children, preserving wealth, minimizing taxes and ...
Employee Stock Purchase Plan Family Office Definition: Employee Stock Purchase Plan Employee Stock Purchase Plan definition: ESPP is a type of plan that allows employees (could be family members) to participate in business profits through the purchase of ...
Employee Stock Option Plan Family Office Definition: Employee Stock Option Plan Employee Stock Option Plan definition: ESOP is a type of retirement plan that allows employees (could be family members) to participate in business profits through the purchase ...
529 Prepaid Tuition Plan Family Office Definition: 529 Prepaid Tuition Plan 529 Prepaid Tuition Plan definition: A 529 Prepaid Tuition Plan is a tax-advantaged method of purchasing education credits for grandchildren (or other heirs) at state schools. Tuition is ...

Leave Your Response

Login | Free Report | Book | Our Story | Email Us

Welcome! My name is Richard C. Wilson and I run the Family Offices Group, the #1 largest association in the family office industry with 61,000 global members. We offer networking, live training workshops, a bestselling book, a monthly newsletter, and a training / certificate program called the Qualified Family Office Professional (QFOP). To get to know us please watch this 2 minute video, and contact us any time during pacific business hours by calling (212) 729-5067 or emailing us at Clients@FamilyOfficesGroup.com.