Setting up a defined benefit plan

Discuss all general (i.e. non-personal) investing questions and issues, investing news, and theory.
Post Reply
Topic Author
ashagru
Posts: 43
Joined: Sun Mar 29, 2015 11:51 pm

Setting up a defined benefit plan

Post by ashagru »

All: Does anyone have experience setting up a Defined Benefits Plan as a founder of a firm? https://saberpension.com/defined-benefi ... f-employed

I am looking to set one up before the end of 2021. I can research firms, but wanted to check if someone had recommendations.

Currently, I use Wells Fargo as my primary banking firm.

Thanks.
DaufuskieNate
Posts: 454
Joined: Wed May 28, 2014 11:53 am

Re: Setting up a defined benefit plan

Post by DaufuskieNate »

I use the Schwab Personal Defined Benefit Plan. Very good service and reasonable fees.
Topic Author
ashagru
Posts: 43
Joined: Sun Mar 29, 2015 11:51 pm

Re: Setting up a defined benefit plan

Post by ashagru »

Thanks DaufuskieNate!

Schwab is the first one that popped on my search too. A few questions:
1. Are you comfortable with the fees that they have ($4k for set up and annual fees). Seems large, but wanted to check if you have shopped around

2. Are you comfortable if I PM you some questions about setting this up for key employees?
DaufuskieNate
Posts: 454
Joined: Wed May 28, 2014 11:53 am

Re: Setting up a defined benefit plan

Post by DaufuskieNate »

The other options that I looked at were law firms and more expensive. This was the most reasonable that I found, but may have overlooked other options. You are welcome to PM me, but I have no employees so no experience with how to set them up.
DaufuskieNate
Posts: 454
Joined: Wed May 28, 2014 11:53 am

Re: Setting up a defined benefit plan

Post by DaufuskieNate »

BTW, my annual fee is $1200, but that may be lower because I have a solo plan with no employees.
Post Reply