412(i) plan

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.

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