Matt Ruttenberg
speaker
364 appearances
1 recordings
1 series
first heard Sep 2025
last heard 25 Sep
Matt Ruttenberg’s voice in public audio — every appearance, attributed to the second.
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Appearances
Honestly, we could have gotten up to 3 million, but,
Yeah, one million into the plant.
But there was five owners here.
So it was able to get that.
And it's multiple locations and things like that.
But a million dollars in and 70 went to the employees.
So that's a 93% efficiency rating, which that's almost a $500,000 tax savings right there.
Your net, net out the contributions you had to give to your employees and you were way ahead of schedule.
So again, this is a defined, that top layer is considered a defined benefit plan.
There's actually different versions in there.
So an old school pension that, you know, Ford and GM used to have before they bought everybody out.
That's a more of a formal version.
The cash balance plan is really a more formal.
flexible, casual version, really built for small businesses.
It's calculated the same as a pension, whereas you're shooting for that future benefit.
You're not going to pay yourself an income.
We're just calculating based on the income.
And then you shut it down when you're done.
So in the instance of where maybe we have a partnership and some of the older partners are looking to retire within the next five years, but they want to start taking out some more of the equity in the company or cash flow, and they want to put it into a tax savings tool, the cash balance plan is fantastic because you only really need it for about three years.
And then you can shut it down and it just rolls right over into your 401k when you're done.
Showing 281–300 of 364 · page 15 of 19
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