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Welcome to Mini(k)Plan.com
Retirement Plans for Owner-only
Businesses and Employers with 1-25 employees |
Note our new address and
WARNING!!!
We no longer update all information on this website.
Please contact us if you desire an update
relative to any information provided. |
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Who should consider a Mini(k)Plan? |
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Any individual or very small
business owner (described below), age 21 to 70+
earning $25,000 to $500,000, who desire a
retirement plan that facilitates the max-imum tax
deductible contribution as permitted by law.
Individuals who are
independent contractors
(e.g., Real Estate or Mortgage
Brokers, Manufacturer’s Representatives, Insurance
Agents or Brokers, College or University Teachers, or
Professors with outside income from books or
consulting, Golf Professionals who are not
employees, “Hospital-based” Physicians who are not
hospital employees).
Any businesses owner with no
employees or
employees who work less than 1,000 hours per year
(owner or shareholder in a C or S corporation, Sole
Proprietor, Partnership, LLC, or LLP).
Any small businesses with
1-25 employees who work more than 1,000 hours per year.
Milberg Consulting LLC,
a pension third party administration and compliance
services firm, designed the
Mini(k)Plan
to address the unique needs and desires of
independent contractors and owners of very small
businesses.
Learn
more about Milberg Consulting |
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The Mini(k)Plan Advantage in 2010... |
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Earned Income1 |
$25,000 |
$50,000 |
$100,000 |
$130,000 |
≥$245,000 |
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Age 25 |
Mini(k) |
$22,750 |
$29,000 |
$41,500 |
$49,000 |
$49,0002 |
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SEP |
$6,250 |
$12,500 |
$25,000 |
$32,500 |
$49,000 |
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Mini(k) Advantage |
$16,500 |
$16,500 |
$16,500 |
$16,500 |
$0 |
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Age 35 |
Mini(k) |
$22,750 |
$29,000 |
$59,7092 |
$68,1002 |
$75,0002 |
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SEP |
$6,250 |
$12,500 |
$25,000 |
$32,500 |
$49,000 |
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Mini(k) Advantage |
$16,500 |
$16,500 |
$34,709 |
$35,600 |
$26,000 |
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Age 45 |
Mini(k) |
$22,750 |
$67,6683 |
$118,8373 |
$137,7003 |
$144,6002 |
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SEP |
$6,250 |
$12,500 |
$25,000 |
$32,500 |
$49,000 |
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Mini(k) Advantage |
$16,500 |
$55,168 |
$93,837 |
$105,200 |
$95,600 |
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Age 55 |
Mini(k) |
$48,8853 |
$75,7693 |
$129,5383 |
$161,8003 |
$234,7002 |
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SEP |
$6,250 |
$12,500 |
$25,000 |
$32,500 |
$49,000 |
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Mini(k) Advantage |
$42,635 |
$63,269 |
$104,538 |
$129,300 |
$185,700 |
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Click
on the hyperlinks below to view these case studies
illustrating higher plan
contributions for owner-onlys: |
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35-year old earns $300,000
45-year old earns $400,000
55-year old earns $600,000
Adding your
spouse to your plan enhances the Mini(k) Advantage!
Learn
more about why you should consider adding your spouse to your plan |
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1 Earned Income is W-2 compensation net of deduction for
employer plan contribution, or Self-employment income net of deduction
for 50% of FICA and
plan contribution. |
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2 Combination Mini(k) w/Defined Benefit Plan. Assumptions: GA94
Mortality, 5.5% Pre-Retirement, 5.5% Post-Retirement; Normal Retirement
Age is generally 10 years or age 62 dependent on age at start of plan. |
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3 Requires higher total profit/income than SEP to
fund Defined Benefit Pension Plan
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© 2002-2011 ERISA Expertise LLC All Rights Reserved |
For more Mini(k) information, contact Barry
Milberg at (800) 965-0988 ext. 101 or
bmilberg@erisaexpertise.com
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Mini(k)
compared to a SEP, SIMPLE or so-called “Keogh” Plan... |
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The key advantage of the
Min(k) is higher deductible contributions that yield
higher retirement benefits.
In addition, the Mini(k)
offers features typically not available with other
plans including the ability to:
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Contribute to a
Roth 401(k) account
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Consolidate
retirement plans and IRAs
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Buy Life Insurance
with pre-tax dollars
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Borrow from your
plan free of tax or penalties
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Change contributions yearly
(within plan limits)
▪ Receive tax credits
for plan start-up costs
(certain conditions apply)
▪ Invest contributions
without restrictions (as permitted by law)
▪ Add Your Spouse
to increase contribu-tions to your plan
▪ Exclude employees
from participation
View case studies
comparing Mini(k)Plan to SEP, SIMPLE or so-called "Keogh" Plans.
Milberg Consulting can design,
establish and administer a Mini(k)Plan to provide:
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Higher
Contribution Limits
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Increased Tax Deductions
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Greater
Benefits at Retirement
Learn
more about Milberg Consulting |
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Roth
401(k) Tools & Technology
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Roth 401(k) Analyzersm
The first and only calculator
that provides side-by-side graphic illustrations of projected pre-tax
account distributions taxed at 3 different tax rates compared to
the projected tax-free distributions from a Roth account.
Register for free
demonstration
The analyzer was developed by
Barry R. Milberg−quoted on
the benefits of the Roth
401(k) in Forbes and Newsweek Magazines, the Wall Street Journal,
Los Angeles Times, Miami Herald
and Philadelphia Inquirer,
and online at Forbes.com, RegisteredRep.com
and BenefitNews.com.
Learn more
about Barry R. Milberg |
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