CCA Small Business Group LLC, a provider of retirement plans for sole proprietors and small businesses, has unveiled its new OurMax plan, a Web-enabled, high-deferral retirement plan for small business owners.
The plan is a type of defined benefit plan, which allows business owners to save up to $200,000 annually for retirement.
OurMax extends the benefits of the previously launched MyMax individual retirement plan to small businesses. Launched in November 2004, MyMax limits eligibility to self-employed individuals and other sole owner businesses with no employees.
Among OurMax's unique features are:
- Interactive design sessions, allowing business owners, financial advisors and OurMax staff to view the plan design together and make changes in real-time.
- Optimal deferral opportunity, wherein the technology is designed to leverage all available defined benefit plan tax advantages to ensure the retirement objectives of each owner are met.
- Investment flexibility, allowing the plan to work with most investment platforms.
CCA said that OurMax can work in addition to an existing 401(k) plan, with contribution levels set to meet the needs of each business owner.More information is available at
