— Lloyd Poindexter

"Having worked with many law firms, I have found them eager to find ways to reduce their tax burden. One of the very significant methods I've seen for them to do this is by implementing a Cash Balance pension plan to their 401(k) Profit Sharing plan. This allows them to make dramatically higher pre-tax contributions into their qualified plans, sometimes as high as $200,000 per year. It is a complex plan that may not be right for everyone, but for those who can, I would strongly recommend that they look into this."

— Dave Roberts, CPA of RBZ, LLP

"Retirement is a personal thing. It rarely comes up in discussion, but it is very much on our physicians' minds. [After surveying them, we found] their number one priority was a reliable and safe retirement savings program. Kravitz helped us enhance our 401(k) Profit Sharing plan by adding a Cash Balance plan. Senior Partner Physicians were then able to contribute an additional $30,000 annually to their retirement plan – almost double what they were saving prior to the Cash Balance plan."

— Bill Chin, MD, Executive Medical Director, HealthCare Partners, Los Angeles

"I've noticed that around 40 years of age the group's retirement plan becomes a huge issue to the doctors. Because of the time demands of medical school, residency and sometimes a fellowship program they often feel a need to ‘catch-up' on retirement savings. Kravitz added a Cash Balance pension plan to our existing plans and almost doubled contribution amounts for selected physicians. Our physicians are now able to contribute an additional $30,000 to $83,000 on top of the $45,000 they were doing. Because Cash Balance plans permit age-graduated contributions, some doctors over 50 contribute in excess of $125,000."

—Robert Master, MD, FACC, Pension committee Chairman,
   Camino Medical Group, Palo Alto (200+ Doctors)