Getting Started
Easy Plan Opening
OnePersonPlus® is designed to make it easy for individuals and financial advisors to open a plan.
OnePersonPlus Defined Benefit Plans and OwnersPlus Cash Balance +401(k) plans allow qualified business owners to reduce current year taxes and to build wealth by making the largest possible tax-deferred contributions to an IRS-approved retirement plan. We have simplified the process of setting up individual defined benefit plans, and provide free consulting to help you decide if this is the right plan and the right time for you.
ESTIMATE THE ALLOWABLE PLAN CONTRIBUTION ONLINE or call us at 866.269.2706 – Our expert team offers “concierge” services to make sure we design the best plan for each qualified individual and small business. We’ll have your Adoption Agreement and other documents to you within ten business days.
Step 1: Decide How Much You Want to Save
Each DB Defined Benefit Retirement Plan is unique, designed specifically to meet an individual’s retirement savings goals by answering these questions:
- Are you trying to maximize your retirement wealth and tax deductions, or do you have a specific annual contribution in mind?
- Where does your income come from, e.g., W-2 from your own business, consulting fees?
- How many years will your income be high enough to sustain contributions?
- Is your annual income stable or does it fluctuate?
- Do you have employees, or are you planning to hire any?
When we understand your situation and retirement savings goals, Dedicated DB designs a plan and estimates what your annual contribution to a defined benefit or cash balance plan will be. Call one of our consultants now: 866.269.2706 to discuss your situation!
Step 2: Estimating Your Contribution
DB will calculate your annual contribution to a OnePersonPlus® or OwnersPlus program based on actuarial formulas and:
- Your current age
- The average of your three highest consecutive years of income
- Your planned retirement age – usually at least three years from plan adoption
- The balances you have accumulated in your plan
- Run an estimate for yourself right now!
Step 3: Establishing Your Plan
Once DB has designed a defined benefit plan to meet your goals, you complete a Plan Design Questionnaire, and pay your set up fee. Then DB creates your legal plan documents and sends you documents to sign. This process can take a couple of weeks to complete.
Your Defined Benefit plan for the 2018 tax year must be set up by the end of the business fiscal year, generally, December 31st. Contributions are not required until the tax filing deadline with extensions, but no later than eight-and-a-half months after the end of the fiscal year.
Learn More, including any Pension Benefit Guaranty Corporation requirements
Step 4: Investment Account
When your DB plan is set up and you have a Trust ID, you open an investment account at any brokerage, mutual fund company or through a financial advisor. You (and your advisors) select and manage the investments. All Dedicated DB retirement plans are self-directed defined benefit plans. Dedicated DB does not manage your investments or charge any investment-related fees.
Learn More, including important dates
Brought to you by:
OnePersonPlus defined benefit plans are supported by Dedicated Defined Benefit Services, (DB) part of FuturePlan by Ascensus. Dedicated DB is the only national company focused exclusively on helping advisors target, market, sell and service defined benefit pension plans for high net worth clients. As the "go-to" experts, we have established over 4,000 defined benefit plans for 1-5-person organizations. We specialize in retirement plans for high-income self-employed people, and welcome inquiries from individuals and small business owners who want to minimize their taxes and maximize their retirement savings. 866.269.2706.
Trusted by leading financial services companies including TD Ameritrade, Transamerica, Ameriprise, and hundreds of independent financial advisors and CPAs.
© 2020 Dedicated Defined Benefit Services, part of FuturePlan by Ascensus. All Rights Reserved.
OnePersonPlus is a registered trademark of Dedicated Defined Benefit Services.